Reinsurer ACR Capital Holdings today announced the completion of its acquisition of Asia Capital Reinsurance Malaysia and ACR ReTakaful Holdings.
The acquisition will see ACR Malaysia and ACR ReTakaful, including operating entities ACR ReTakaful Berhad in Kuala Lumpur and ACR Re Takaful MEA B.S.C. in Bahrain, operate as wholly owned subsidiaries of Asia Capital Re.
ACR Group Chief Executive Officer (CEO), Hans-Peter Gerhardt, said; “The consolidation of all these ACR-branded entities fully under the ACR group is part of our long-term strategy to enhance the client benefits and operational efficiency of all ACR entities so they may be able to grow and move as one unit.
“The ultimate goal is to build a strong and coherent ACR group of companies for all our clients in Asia and the Middle East.”
ACR previously held 30 percent and 20 percent of ACR Malaysia and ACR ReTakaful, respectively.
