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Chennai (Tamil Nadu) [India], June 29 (ANI/News Voir): KG Information Systems Private Limited (KGISL), a global IT services, consulting, and business solution provider, today announced the acquisition of AETINS Sdn. Bhd., (199801000924), through its wholly-owned subsidiary in Malaysia, KG Information Systems Sdn. Bhd. (201301013805). The acquisition is a part of KGISL’s growth strategy in the InsurTech space.
AETINS brings aboard an exceptional range of insurance solutions for Life, General and Takaful bundled with an unmatched domain expertise. AETINS’ Core Insurance Product and Solutions are well known in the market and are market leading. The company serves a vast clientele of insurance firms in the Asia Pacific, Middle East, and North Africa. The people, products, and solutions from AETINS would be leveraged in expanding KGISL’s footprint in the InsurTech space.
KGISL completes acquisition of AETINS
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KGISL completes acquisition of AETINS, expands expertise in the insurance space
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CMA issues administrative decision
By: Times News Service
Muscat: The Capital Market Authority (CMA) has issued an administrative decision specifying the credit rating for investment of the assets of insurance and Takaful companies outside the Sultanate.
The decision obliged the companies to limit the investment of their assets outside the Sultanate to the countries, financial institutions and instruments with a credit rating not less than – BBB in accordance with Standard & Poor’s (S&P) rating or an equivalent.
The move comes to enhance the investments of the insurance sector and to deal with the economic changes and the ability of the companies to face the investment challenges in addition to the economic value of the local market and the role of insurers and their saving schemes.