Generali unit buys big stake in Bahrain group Gulf Assist

Generali unit buys big stake in Bahrain group Gulf Assist

Europ Assistance (EA), a subsidiary of the Italian global insurer, Generali Group, has announced that it has reached an agreement with Mapfre Asistencia to acquire nearly 75% of the stake in Bahrain-based Gulf Assist.

Founded in 1963, Europ Assistance, the inventor of assistance, supports customers in over 200 countries and territories thanks to our network of 750.000 approved providers and 43 assistance centres.

Gulf Assist also owns Arab Assist in Jordan - where most of its operations and support functions are located -and also has a commercial branch in Dubai.

Gulf Assist is a part of Mapfre Asistencia, a global insurance, reinsurance and services company founded in Madrid (Spain) in 1989.

Operating worldwide, it has 33 offices across the globe and is a leader in providing solutions for the insurance sector, including specific solutions for brokers, as well as the financial, automotive industry, travel and tourism sectors.

With this transaction, Europ Assistance has emerged as a new leader in assistance in the Middle East, with a B2B2C operating model that is diversified both in terms of offerings (roadside assistance, travel assistance and insurance, mobile phone insurance) and geographically with income generated in 10 countries in the region including UAE, Bahrain, Saudi Arabia, Kuwait, Qatar, Oman,