Saradar acquires 51% of Assurex

Lebanese conglomerate Saradar Capital Holding announced recently the acquisition of 51 percent of Assurex SAL, a 40-year old Lebanese insurance company owned by the Fattal Group.

“We have worked over the past four decades to build a solid and reputable business,” states Hubert Fattal, chairman and CEO of Fattal Group, “and we are extremely excited about partnering up with Saradar Finance House to deliver a common vision and expansion strategy for Assurex.”

Assurex will continue to operate under its own name.

“This acquisition and partnership with the Fattal Group comes at a strategic time during the expansion of Saradar Finance House,” commented group chairman and CEO Mario Saradar, “as it provides opportunities to spearhead our expansion into the insurance sector through new products and services, and an extended geographical footprint. Furthermore, we believe in the strategic fit between Saradar Finance House and Fattal Group as we share a common set of core values and a similar ambition to consolidate and grow our presence in the insurance sector.”