VOL. XLV

No 47

25-November-2002

OMAN

ARIG Acquires Majority Holding In Gulf Warranties

Arab Insurance Group (ARIG) has acquired a controlling 66% stake in Gulf Warranties, the biggest extended warranty provider in the GCC market, from Muscat-based Oman National Investment Corporation (ONIC) Holdings which will retain a 34% stake in the business. The move makes ARIG the regions largest provider of automotive extended warranties, a market which ARIG expects to grow substantially over the coming...