CBB grants licence to Cigna

The Central Bank of Bahrain has granted a license to Cigna Life Insurance Company of Europe S.A. – N.V. (Cigna) to open a branch in Bahrain. The license allows the entity to expand its insurance products in the Kingdom of Bahrain.

The proposed branch is expected to contribute in medical insurance sector and hereby, it is targeted to engage with local brokers to offer its medical coverage products to multinational companies with exposure in Bahrain, local private enterprises with operations abroad requiring international coverage and Government sponsored entities requiring local and international health cover.

Ahmed Al-Bassam, director of Licensing, Central Bank of Bahrain, commented: “We welcome Cigna’s decision to choose Bahrain as an arm of its group for reaching out to the local customers and the GCC Market, to provide its worldwide Health coverages, emphasising that its presence in the region will contribute positively in the medical insurance services given their track record in the health service industry.”