The takeover significantly strengthens Sukoon’s operational reach in life insurance, which is seen as a growth area still relatively underexploited by insurers here. “We are satisfied with this transaction which further strengthens our position in the market, reaching more than one billion dirhams of assets under management in individual life”, declared Emmanuel Deschamps, member of the executive committee and head of the business unit. life insurance at Sukoon.
“It is part of our strategy to accelerate the growth of our life portfolio and to become the regional reference in life insurance. With this transaction, we are capitalizing on our high digital capabilities and our multi-channel approach.
The decision to sell Generali was part of an “overall strategy to streamline its business model in the UAE by strengthening its partnership proposal ecosystem.”