Bahrain's BKIC raises stake in Takaful International to 40.9 pct

April 8, 2015 2:30 AM

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April 8 (Reuters) - Bahrain Kuwait Insurance Co, the kingdom's largest insurer, has raised its stake in local peer Takaful International to 40.9 percent, a move that could herald the start of wider consolidation in the sector.

Last week, BKIC had taken an initial 10.8 percent stake in Takaful International, the largest Islamic insurance firm in a market that has 24 locally incorporated insurers including nine Islamic firms.

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