BlueFive sets up new platform to lead Gulf insurance consolidation push
Abu Dhabi-based BlueFive Capital established a new investment unit to acquire insurance companies across the Gulf, beginning with a planned stake in Saudi Arabia’s Gulf General Cooperative Insurance.
The business, one of the smallest of the kingdom’s 25 insurers, will serve as BlueFive’s entry point into a sector that has faced sustained regulatory pressure to consolidate.
People familiar with the matter said BlueFive’s intention is to become a controlling shareholder, rebrand the company, and use it as a platform for further acquisitions in the reg…
