NLGIC to buy UAE company

Muscat: National Life and General Insurance Company (NLGIC) on Tuesday said that an agreement has been reached to buy Inayah TPA (Third Party Medical Claims Administrator). The deal is expected to strengthen NLGIC’s foothold in the UAE Insurance market NLGIC is a leading insurance company in the Sultanate of Oman and having overseas branches in Dubai and Abu Dhabi.
S Venkatachalam, CEOhief Executive Officer, NLGIC, said: “NLGIC has already established its presence in UAE life and health insurance market. The acquisition of Inayah TPA is a strategic investment which will benefit the company in many ways in the long term. Having our own claims processing capability will provide NLGIC with direct access to a wide network of hospitals to render better customer service and improve profitability by having more control on claims cost and claims management cost. This acquisition is a strategic fit to our overall objective to maximize shareholder wealth.”

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