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Sukoon acquires Chubb’s UAE life business

sukoon

Arabian Post Staff

Sukoon, formerly Oman Insurance, has acquired the UAE Life insurance portfolio of Chubb Tempest Life Reinsurance Ltd. An agreement to this effect was signed on August 24th, but the financial terms of the transaction were not disclosed.

Chubb Tempest Life Reinsurance Ltd, is a private company incorporated in Bermuda, with UAE branch offices in Dubai and Sharjah.

The transfer which covers unit-linked life insurance and protection policies, is subject to regulatory approvals.

Both parties are committed to ensuring a smooth transition for the existing policyholders and to continue providing them with access to best-in-class insurance services and systems. The terms and conditions of customer’s policies will remain unchanged.

 

Also published on Medium.

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