Arab Insurance Group (Arig) has announced that it had received notification of a non-binding letter of intent for the acquisition of a 51% stake in its issued and fully paid-up ordinary shares.
BlueFive Capital, an Abu Dhabi-headquartered private investment firm, issued the notification.
The announcement was made via a statement lodged with Bahrain Bourse. Arig said, “The Letter of Intent is non-binding, and no firm offer has been made at this stage. Arig will provide additional disclosure on this matter as required in accordance with the applicable regulations.”
Shareholders of the reinsurance company, which is listed on the Bahrain Stock Exchange, decided to cease writing business at an extraordinary general meeting on 13 August 2020.
1H2026 financials
For the first six months of this year, Arig recorded a consolidated net profit of $5.25m, attributable to shareholders (1H2025: net profit of $2.94m) an increase of 79% mainly due to lower insurance expenses and higher financial insurance results in 2026.
Arig’s shareholders’ equity stood at $261.81m at 30 June 2026 (end of 2025: $267.72m) a decrease of 2%, primarily due to payout of dividends of 3.25%. The total assets as at 30 June 2026 was $344.51m, compared to $355.16m as at 31 December 2025, a decrease of 3%. Retained earnings of the company stood at $7.25m at 30 June 2026 (end of 2025: $8.34m), representing 3.29% of paid-up capital.
Insurance revenue for 1H2026 was negative $0.03m (1H2025: positive $0.54m). Consolidated investment income attributable to shareholders and insurance funds for the first six months of 2026 was $5.91m (1H2025: $6.42m), a decrease of 8% due to lower yields on the company’s fixed income portfolio.