Bank Audi finalized its sale Wednesday of a majority stake in its LIA unit – an estimated over-$100 million transaction – to Saham Finances, a top player in the African insurance market.
Bank Audi and Saham will move forward under a joint cooperation agreement giving LIA a signature presence throughout Africa in the field of bancassurance.
Read more: http://www.dailystar.com.lb/Business/Lebanon/2012/Jun-28/178526-bank-audi-sells-stake-in-lia-to-saham.ashx#ixzz22Hx6ORFq
(The Daily Star :: Lebanon News :: http://www.dailystar.com.lb)
Bankers Guide To Basel II: Insurance entities
A bank that owns an insurance subsidiary bears the full entrepreneurial risks of the subsidiary and should recognize on a group-wide basis the risks inc