The licence allows the entity to expand its insurance products in the Kingdom.
Wednesday 17, April 2019 BY KUDAKWASHE MUZORIWA
The Central Bank of Bahrain (CBB) has granted a licence to Cigna Life Insurance Company of Europe (Cigna) to open an insurance firm in Bahrain, according to local newswire, Bahrain News Agency.
The proposed insurance firm is expected to contribute in medical insurance sector, targeting to engage with local brokers to offer its medical coverage products to multinational companies in Bahrain, local private enterprises with operations abroad requiring international coverage as well as government sponsored entities requiring local and international health cover.
Ahmed Al-Bassam, CBB’s Director of Licencing, said, “We welcome Cigna’s decision to choose Bahrain as an arm of its group for reaching out to the local customers and the GCC market, to provide its worldwide health coverages.”