Important announcement regarding our company

Message from A. R. Srinivasan, General Manager, Al Ahlia Insurance Company SAOC

Today we have announced a major strategic partnership with RSA Group, which is one of the world’s leading non-life insurers.

RSA Oman will acquire Al Ahlia Insurance Company for RO 19m. In creating this new partnership, Al Ahlia will benefit from RSA’s strong financial base, vast experience in insurance, capacity and global presence. In return, ONIC Holding will acquire a 20.03% stake in RSA Oman.

As background on RSA, it is one of the world’s leading multinational quoted insurance groups with a 300 year heritage. It has the capability to write business in over 130 countries and with major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East and Latin America. Focusing on general insurance, it has around 21,000 employees and, in 2008, its net written premiums were £6.5bn.

A press release has been issued to announce this acquisition and details can be found enclosed with this message. (click here for the press release in English / click here for the press release in Arabic)

We will initially run the 2 companies as separate entities allowing us to then establish an integration team and in due course create one combined organisation. So from that point of view the key message for you our customers, is that it is business as usual.

Our company website will have more details in due course on the acquisition. However, if you have any specific questions you can write to askus@alahliaoman.com

Regards,
for AL AHLIA INSURANCE CO. SAOC



A.R. SRINIVASAN
GENERAL MANAGER
Dated 10 February 2010

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