ONIC is in search of new acquisitions

Oman National Investment Corporation (ONIC) plans on making new acquisitions in Oman and in the Gulf region. With short-term growth forecasts being important in Oman and in the Gulf countries, ONIC will be focusing on insurance investments, its main activity. In February 2010, ONIC signed an agreement with the British RSA Insurance Group for the acquisition by the latter of Al Ahlia Insurance Co., member of the group ONIC for the sums of 49.3 million USD. At the same time, ONIC will get 20.03% in RSA Oman's capital.