Dubai: Dubai Group, a diversified financial services company of Dubai Holding, saidon Sunday it has acquired a 51 per cent per cent stake in Al Fajer Retakaful Insurance Company KSCC through its global Sharia-compliant investment company Dubai Islamic Investment Group (DIIG).
Al Fajer Re, a closed Kuwaiti shareholding company, is the first licensed retakaful company in Kuwait and the third in the Gulf region with a paid up capital of $178.5 million.
Headquartered in Dubai, Dubai Islamic's investment in Al Fajer Re marks Dubai Group's foray into the retakaful sector as a first step to drive the segment globally.
