Delta Insurance To Demerge Life, Property Businesses

Delta Insurance’s board of directors agreed on Tuesday to demerge the company’s life insurance and property insurance activities. The demerger decision shall be reviewed on the Extraordinary General Meeting (EGA) on June 29th, 2013.

Moreover, Delta’s Annual General Meeting (AGM) shall consider the amendment of Article No. 3 as regards to the company’s practice of the Insurance and reinsurance activities over the last 50 years.

Furthermore, the AGM shall also ratify the transfer of the Life Insurance portfolio and assets to the demerging company Delta Life Insurance so as to complete all the legal documentation on the splitting process.