NEWS & ANNOUNCEMENTS

Rashed Ismaeel Al Meer, New Chairman of Solidarity Group

MANAMA, BAHRAIN – 18 June, 2017 – Solidarity Group Holding, one of the largest Takaful groups in the world, has announced the retirement of Mr. Khalid Abdulla-Janahi from the Board of Directors last week.
During a Board meeting held last Sunday Mr. Rashed Ismaeel Al Meer, current Vice-Chairman, was elected as Chairman to the Board of Directors for the current Board term. Furthermore, Mr. Ahmed Abdul Rahim was elected as Vice-Chairman. The Board of Directors has also welcomed the joining of Mr. Hassan Mahmood to the Board as a new member.

Solidarity's offer to acquire a majority stake in Al Ahlia Insurance Company

Solidarity Group Holding B.S.C. (c) voluntary conditional offer to acquire up to 100% of the issued and paid up ordinary shares of Al Ahlia Insurance Company B.S.C. subject to a minimum acquisition of 51% of the issued share capital of Al Ahlia Insurance Company B.S.C. in cash at an offer price of 242 fils (two hundred and forty two fils) for every share in Al Ahlia Insurance Company B.S.C.

Offer Document (Arabic)
Offer Document (English)

Solidarity Group Subsidiary acquires major stake in Jordanian Insurance firm

MANAMA, BAHRAIN – 8 April, 2015 – First Insurance P.L.C., Jordan a subsidiary of Solidarity Group Holding Bahrain, the largest Takaful group in the world, has acquired a controlling stake in Yarmouk Insurance Company in Jordan.
Originally founded more than 30 years ago, Yarmouk Insurance is one of the deep-rooted insurance companies in the country operating in life and nonlife classes of insurance. The acquisition transaction was completed on Amman Stock Exchange in a deal worth US Dollars 15 million.

Jawad Mohamed to head Solidarity General Takaful

MANAMA, BAHRAIN – 11 October, 2014 – Jawad Mohammed has been appointed General Manager of Solidarity General Takaful “SGT”, a subsidiary of Solidarity Group Holding, one of the largest Takaful groups in the world.
Jawad Mohammed was formerly the Deputy General Manager of SGT, and has been with the Group since his appointment in 2003.

A.M. Best Assigns Secure B++ Rating to Solidarity

MANAMA, BAHRAIN – 21 June, 2014 – Solidarity General Takaful, a subsidiary of the largest Takaful groups in the world, Solidarity Group Holding, was assigned financial strength rating of B++ (Good) and insurer credit rating of “bbb” by A.M. Best, both with a stable outlook.
According to A.M. Best, the ratings of Solidarity General Takaful reflect its sound level of risk-adjusted capitalisation and niche market profile as a takaful operator in Bahrain. The ratings benefit from the financial strength of its parent company, Solidarity Group Holding.

Solidarity Group holds its 2014 Annual General Meeting

MANAMA, BAHRAIN – 2 April, 2014 – Solidarity Group Holding, the largest Takaful group in the world, held its Annual General Meeting of its shareholders yesterday. The meeting agenda included review of the minutes of the previous AGM and its approval, as well as approval of the financial statements for the financial year ended 31 December 2013, hearing the reports of the external auditors and the Shari'a Supervisory Board. Finally, a new Board of Directors has been elected for a three year term.

A.M. Best Europe Affirms Rating of a Solidarity Group Member Company

MANAMA, BAHRAIN – 3 March, 2014 – The rating of First Insurance, a Jordanian subsidiary company of the largest Takaful groups in the world, Solidarity Group Holding B.S.C. (C), was reaffirmed by A.M. Best Europe, receiving a financial strength rating of B++ and insurer credit rating of “bbb” with stable future outlook for the third year running.

Solidarity Group Celebrates 10th Anniversary

MANAMA, BAHRAIN – 14 December, 2013 – Solidarity Group, which is the largest Takaful group in the world, has celebrated its 10th anniversary last week on 12 December 2013. The celebration was held during a reception party attended by senior government officials and VIP guests and strategic business partners at the Ritz-Carlton Hotel and Spa Kingdom of Bahrain.