Insurance Post

Transatlantic buys 40% stake.

US company Transatlantic Re has bought a 40% stake for $30m in Kuwait Re, which writes mainly proper...

US company Transatlantic Re has bought a 40% stake for $30m in Kuwait
Re, which writes mainly property, casualty and life reinsurance in the
Middle East and North Africa.


Transatlantic said that it wanted a presence in Kuwait Re's markets and
that the move gave the Kuwaiti company the support it needed.
Transatlantic will provide underwriting skills and contacts and there are
likely to be exchanges of employees.


Kuwait Re was formed in 1972. It has 12 employees and earns premiums of
about $30m a year. It had talked to several other potential investors,
said Transatlantic.
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