‘Chedid Capital Holding' acquires major share of the Emirati ‘Al Manara Insurance Services Co. Ltd.'

UAE, May 11, 2016- Chedid Capital Holding the multi-awarded insurance and reinsurance regional group, in collaboration with prominent investors in Dubai, announced the acquisition of 75 % of Al Manara Insurance Services Co Ltd Sharjah, an insurance brokerage firm operating in the United Arab Emirates. This move is part of the company’s expansion and consolidation plan in countries 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 reputation earned over 25 years under the leadership of Issam Lahham”, said Farid Chedid, Chairman & CEO of Chedid Capital Holding who added: “This acquisition represents one more significant step on the path of expansion and success of Chedid Capital Holding that makes markets, sectors and a larger base of customers benefit from the exceptional services and expertise our companies provide across all our areas of operation”.

With more than 25 years of extensive experience in the UAE market, Al Manara Insurance Services Co Ltd has built credibility through constant efficiency and high performance driven by a team of skilled experts, delivering tailor made professional services to the various categories of the insurance markets.

Issam Lahham, Managing Director of Al Manara Insurance Services Co Ltd said: “We are highly satisfied and grateful to Chedid Capital Holding for their confidence in Al Manara and for the opportunity given to us to embark together on an expansion journey in the UAE market, this acquisition is a step further into developing a regional leader in the insurance broking industry.”