The Competition Protection Authority approved the economic concentration process of Kuwait Insurance Company's acquisition of 76% of National Takaful Insurance Company’s capital.
Resolution No. 7 of 2023 was issued approving the acquisition, pursuant to Article (2) which stipulates that the competent authorities, each within their own jurisdiction, must implement this decision and notify all parties thereof.
The approval was issued after reviewing the executive management report regarding the economic concentration process and its approval by the Board of Directors, in addition to reviewing applicable laws regarding the competition protection and their executive bylaws.