7 February 2020Insurance

IGI gets Dubai regulator's nod for Tiberius transaction

Following approval from the  Bermuda Monetary Authority (BMA) in January, International General Insurance Holdings (IGI) has received two additional regulatory approvals in connection with its  acquisition of Tiberius Acquisitions Corporation, a publicly traded special purpose acquisition company.

The Dubai Financial Services Authority (DFSA) and Share Exchange Agreements from existing IGI shareholders holding 100 percent of the issued and outstanding IGI common shares have given a go-ahead, however, approval from the UK's Prudential Regulation Authority is still awaited.

The DFSA approval, received on February 3, 2020, is one of the necessary steps towards successfully completing the transaction with Tiberius.

IGI intends to close the business combination two business days after the satisfaction of the requisite closing conditions and approvals contained in the Business Combination Agreement. Upon close, IGI will be domiciled in Bermuda as International General Insurance Holdings.

Get all the latest re/insurance industry news with our daily newsletter -  sign up here.

​​​​Fidelity National Financial to buy FGL Holdings in $2.7bn deal
Economic reform key for burgeoning Brazilian reinsurance market
Alliant boosts property and casualty team with new hire
WR Berkley hires SVP claims from The Navigators Group
Severe tropical cyclone Damien approaches Western Australia
Clyde & Co expands Australian team with three new insurance partners
Cincinnati Financial Corporation reports 'stellar' results
Admiral Group anticipates a strong 2019 profit
Irish insurtech Blink unveils parametric solutions platform
Sompo Global Risk Solutions launches product for the life sciences industry
European start-up Luko recruits chief actuary from Admiral France
Irish insurtech Blink unveils parametric solutions platform

Don't miss our insurtech email newsletter - sign up today


More on this story

Insurance
13 September 2023   Despite market cycles, we excel at capital strategy but don’t get enough credit: CEO Jabsheh.
Insurance
9 September 2023   IGI’s Waleed Jabsheh expects tailwinds of property and construction underwriting to power results.
Insurance
25 August 2023   BMA imposes penalties of over $900,000 on a Class C insurer and its international unit.

More on this story

Insurance
13 September 2023   Despite market cycles, we excel at capital strategy but don’t get enough credit: CEO Jabsheh.
Insurance
9 September 2023   IGI’s Waleed Jabsheh expects tailwinds of property and construction underwriting to power results.
Insurance
25 August 2023   BMA imposes penalties of over $900,000 on a Class C insurer and its international unit.

Intelligent Insurer
Newton Media Ltd
Kingfisher House
21-23 Elmfield Road
BR1 1LT
United Kingdom