Chedid Capital Holding acquires major share of the Emirati Al Manara Insurance Services Co. Ltd.
Chedid Capital Holding the multi-awarded insurance coverage and reinsurance local group, in collaboration with popular financiers in Dubai, revealed the acquisition of 75 % of Al Manara Insurance Services Co Ltd Sharjah, an insurance brokerage company operating in the United Arab Emirates. This step is part of the business's expansion and consolidation strategy in nations of the EMEA region by 2017.
" Along with the growth of our businesses in Africa, we are proud to continue our expansion in the GCC through the acquisition of Al Manara Insurance Services Co Ltd. This company has solid roots in the UAE market and a great credibility made over 25 years under the leadership of Issam Lahham", said Farid Chedid, Chairman & CEO of Chedid Capital Holding who added: "This acquisition represents another substantial step on the course of expansion and success of Chedid Capital Holding that makes markets, sectors and a bigger base of customers take advantage of the remarkable services and know-how our companies offer throughout all our areas of operation".
With more than 25 years of comprehensive experience in the UAE market, Al Manara Insurance Services Co Ltd has actually constructed reliability through consistent performance and high performance driven by a group of proficient professionals, delivering tailor made professional services to the numerous categories of the insurance markets.
Issam Lahham, Managing Director of Al Manara Insurance Services Co Ltd said: "We are highly pleased and grateful to Chedid Capital Holding for their confidence in Al Manara and for the chance given to us to embark together on an expansion journey in the UAE market, this acquisition is a step further into developing a local leader in the insurance coverage broking industry."
