Legal & General Gulf is now ‘Al Hilal Life’

Manama : Legal & General Gulf has announced that its name will be changed to ‘Al Hilal Life’ effective 1st April 2016. The name change follows the change in company’s ownership in October 2015 with Ahli United Bank B.S.C. acquiring Legal & General Group’s 50 per cent stake in Legal & General Gulf. Ahli United Bank now holds 100pc of the company’s shares. 

Commenting on the rebranding initiative, Sanjeev Baijal, Chairman of the company, said, “The change in name reflects the new ownership structure and is a step towards realigning the company more closely to its current and prospective customers while maintaining its own identity.” He added that “Life insurance business is an integral part of AUB Group’s product offering and AUB remains committed to develop the same”. 

According to Baijal, the plan for Al Hilal Life is to develop from being primarily a bancassurer in Bahrain into a more rounded life insurer. AUB has been a shareholder in the company since its incorporation in 2009 and has also experienced success through its bancassurance arrangement.

The name of Legal & General Gulf Takaful, a wholly owned subsidiary, will also be changed to ‘Al Hilal Takaful’ effective 1st April 2016. “The company will continue to offer Takaful products through its subsidiary which focuses on Family Takaful based product offerings and that will be further expanded through introduction of new and enhanced products,” said Abdulla Al Raeesi, Deputy Chairman.