Financial solutions provider Swissglobal today announced the acquisition of insurance provider Premium Insurance, a move that extends Swissglobal’s presence in regional markets across the Middle East.
The strategy comes as the financial services and wealth management firm continues its strategy of expansion worldwide through acquisitions.
Premium Insurance has served a roster of international clients through its UAE base to deliver a portfolio of life, medical and general insurance products, and has a proven track record in the local Middle East market.
Mike Coady, group managing director for the Swiss Global Group, said: “Swissglobal is a financial services brand with a reputation for world-class, Swiss-standard financial management services. There is tremendous latent demand in Middle Eastern markets for financial solutions providers that operate to transparent high standards.
“Our M&A strategy is part of a growth plan where organic expansion is bolstered by key partnerships. This model helps us reach new audiences rapidly, and allows us to catalyse a world-class combination of global expertise and local insight.”
The company remains in prospective acquisition talks with a number of potential GCC firms. The group is also exploring merger and acquisition opportunities in Europe the Middle East and south-east Asia.
On the Middle East, Coady added: “Swissglobal has entered GCC and Middle Eastern markets with the mission to elevate financial solution provision. We are seeing exponentially rising demand for world-class, Swiss-standard services where our clients are asking for trusted advisers that understand global markets but also their specific goals.”