The Doha Insurance Group (DIG), a provider of insurance and reinsurance solutions in the Middle East and North Africa region, has obtained approval from the Qatar Central Bank to establish a new branch in the Kingdom of Saudi Arabia.
This approval comes as part of the Group’s strategic objective to expand its regional and international presence.
DIG will now proceed to complete all required legal and regulatory procedures with the relevant authorities in the Kingdom of Saudi Arabia, with a view to commencing branch operations at the earliest opportunity.
The expansion into Saudi Arabia follows a similar international move announced in December last year, when DIG obtained approval from the Qatar Central Bank to open a branch in Gujarat International Financial Tec-City (GIFT City), India.
The establishment of these branches are expected to significantly contribute to enhancing the Group’s revenues and strengthening its insurance portfolio.
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