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IGI to Acquire Norwegian Agent MGA Energy Insurance Oslo.

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Vincent

MANews-(C)2009-2022

Bermuda-based specialist insurance and reinsurance group International General Insurance Holdings Ltd (NASDAQ: IGIC) has signed a non-binding letter of intent to acquire Norwegian managing general agency Energy Insurance Oslo AS, the company said.

The proposed transaction includes the acquisition of 100% of EIO's shares.

Pending satisfactory completion of due diligence and subject to regulatory approval, IGI and EIO intend to enter into a binding definitive agreement.

Upon completion of the acquisition, IGI expects that EIO will be renamed International General Insurance Company (Norway) and will become a wholly-owned subsidiary of Bermuda-based International General Insurance Co. Ltd.

The transaction is expected to close in 3Q22, subject to regulatory approvals.

IGI is an international specialist insurance and reinsurance...

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