{"id":591971,"date":"2019-12-23T04:29:42","date_gmt":"2019-12-23T04:29:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-gb-nbfs-arms-team-up-to-acquire-majority-stake-in-tokio-marine-egypt-family-takaful\/"},"modified":"2019-12-23T04:29:42","modified_gmt":"2019-12-23T04:29:42","slug":"efg-gb-nbfs-arms-team-up-to-acquire-majority-stake-in-tokio-marine-egypt-family-takaful","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-gb-nbfs-arms-team-up-to-acquire-majority-stake-in-tokio-marine-egypt-family-takaful\/","title":{"rendered":"EFG, GB NBFS arms team up to acquire majority stake in Tokio Marine Egypt Family Takaful"},"content":{"rendered":"

<\/a> M&A WATCH- EFG Hermes, GB Auto jointly acquire majority stake in Tokio <\/strong>Marine Egypt: <\/strong>A consortium of EFG Hermes and GB Auto\u2019s non-banking financial services arms has acquired 75% of Japan\u2019s Tokio Marine Holdings life insurance subsidiary Tokio Marine Egypt Family Takaful<\/a> in an EGP 84.75 mn transaction, according to a statement<\/a>. EFG Hermes Finance and GB Capital will each own 37.5% of the company. The agreement, which was finalized with Tokio Marine (Japan\u2019s largest general insurer) yesterday, is still subject to regulatory approvals.<\/p>\n

Potential in tapping an underserved market: <\/strong>Both GB Auto and EFG Hermes CEOs Raouf Ghabbour and Karim Awad were quoted in the statement as saying the life insurance market is \u201cuntapped\u201d and \u201cunder-penetrated\u201d and has significant potential going forward. \u201cEFG Hermes Finance and GB Auto bring to the table unique capabilities in the NBFI market, capitalizing on their market strength and extensive experience both individually and as partners in the mortgage finance space,\u201d reads the statement.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- EFG Hermes, GB Auto jointly acquire majority stake in Tokio Marine Egypt: A consortium of EFG Hermes and GB Auto\u2019s non-banking financial services arms has acquired 75% of Japan\u2019s Tokio Marine Holdings life insurance subsidiary Tokio Marine Egypt Family Takaful in an EGP 84.75 mn transaction, according to a statement. EFG Hermes Finance […]<\/p>\n","protected":false},"author":1,"featured_media":591972,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[84,72,241,7128,595,2380,2472],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-591971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-efg-hermes","tag-enterpriseam","tag-gb-auto","tag-ma-watch","tag-non-banking-financial-services","tag-speed-round","tag-tokio-marine","wpautop","entry"],"acf":{"mongo_id":"d7ed9d8c-704f-4c9e-b226-8e32beb6018b","is_powered_by":true,"section_story_id":"15270cdf-10e3-4d5f-b01c-d04c27c6bcf3","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/efg-hermes-1600px.jpg","photo_position":"above","related_issue":[591963],"teaser":"","voice_url":""},"yoast_head":"\nEFG, GB NBFS arms team up to acquire majority stake in Tokio Marine Egypt Family Takaful - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/12\/23\/efg-gb-nbfs-arms-team-up-to-acquire-majority-stake-in-tokio-marine-egypt-family-takaful\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG, GB NBFS arms team up to acquire majority stake in Tokio Marine Egypt Family Takaful\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- EFG Hermes, GB Auto jointly acquire majority stake in Tokio Marine Egypt: A consortium of EFG Hermes and GB Auto\u2019s non-banking financial services arms has acquired 75% of Japan\u2019s Tokio Marine Holdings life insurance subsidiary Tokio Marine Egypt Family Takaful in an EGP 84.75 mn transaction, according to a statement. 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WATCH- EFG Hermes, GB Capital to close Tokio Marine majority stake acquisition before the month is out: A consortium of EFG Hermes and GB Auto\u2019s non-banking financial services arms will complete the purchase of 75% Tokio Marine Egypt Family Takaful in 2Q2020, which ends on 30 June, EFG Finance\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549693,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/27\/efg-hermes-gb-capital-rebrand-tokio-marine-egypt-family-takaful-as-kaf\/","url_meta":{"origin":591971,"position":1},"title":"EFG Hermes + GB Capital rebrand Tokio Marine Egypt Family Takaful as Kaf","author":"enterpriseam admin","date":"27 September 2022","format":false,"excerpt":"Tokio Marine Egypt Family Takaful becomes Kaf: EFG Hermes and GB Capital have rebranded life ins. company Tokio Marine Egypt Family Takaful as Kaf following their acquisition of a majority stake in 2020, according to a statement (pdf). Refresher: EFG Hermes\u2019 NBFS arm, EFG Finance, and GB Capital acquired a\u2026","rel":"","context":"In "FINANCIAL SERVICES"","block_context":{"text":"FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/392.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574076,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/efg-hermes-gb-capital-close-acquisition-of-majority-stake-in-tokio-marines-egypt-arm\/","url_meta":{"origin":591971,"position":2},"title":"EFG Hermes, GB Capital close acquisition of majority stake in Tokio Marine\u2019s Egypt arm","author":"enterpriseam admin","date":"30 August 2020","format":false,"excerpt":"M&A WATCH- EFG Hermes and GB Capital have closed their acquisition of 75% of Tokio Marine Egypt Family Takaful, the two companies said in a press release (pdf). The EGP 84.75 mn transaction gives each of EFG Finance and GB Capital a 37.5% stake in the life insurance company. Tokio\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":583709,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/20\/kaf-receives-license-to-provide-commercial-life-ins\/","url_meta":{"origin":591971,"position":3},"title":"Kaf receives license to provide commercial life ins","author":"enterpriseam admin","date":"20 March 2023","format":false,"excerpt":"EFG Hermes and GB Auto acquired 75% of the firm in 2020","rel":"","context":"In "FINANCIAL SERVICES"","block_context":{"text":"FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/3\/Umbrellas-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":634354,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/14\/sources-say-efg-hermes-in-talks-to-acquire-stake-in-bio-pharma-egypt\/","url_meta":{"origin":591971,"position":4},"title":"Sources say EFG Hermes in talks to acquire stake in Bio Pharma Egypt","author":"enterpriseam admin","date":"14 January 2018","format":false,"excerpt":"M&A WATCH- EFG Hermes is reportedly looking to acquire a controlling stake in Bio Pharma Egypt by buying BPE Partners\u2019 Midcap fund\u2019s shares, sources told Al Mal. The transaction would be part of EFG Hermes\u2019 merchant banking operations, the source says, suggesting the transaction would be warehoused for EFG\u2019s Rx\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":650611,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/28\/earnings-watch-gb-auto-efg-hermes-release-4q-fy2016-results\/","url_meta":{"origin":591971,"position":5},"title":"Earnings watch: GB Auto, EFG Hermes release 4Q\/FY2016 results","author":"enterpriseam admin","date":"28 March 2017","format":false,"excerpt":"EARNINGS WATCH - GB Auto reported a net loss of EGP 865.7 mn in 2016, compared with a netprofit of EGP 233.1 mn in 2015, the company said in its earnings filing. The primarily non-cash loss came despite 24.6% y-o-y growth in revenues to EGP 15.3 bn as the company\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=591971"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/591971\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/591963"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/591972"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=591971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=591971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=591971"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=591971"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=591971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}