DLA Piper and Omani firm, Al Lawati Law played instrumental roles as legal advisors in orchestrating the integration of two industry titans, Royal & Sun Alliance Insurance Middle East (RSA Middle East) and National Life & General Insurance Company SAOG (NLGIC) in Oman.
The integration, officially completed in October of the preceding year, harmoniously fused NLGIC’s specialized health and life insurance expertise, based in Oman, with RSA’s extensive range of general insurance solutions. This union has laid the foundation for the emergence of the dynamic and diversified new brand, “Liva.”
The intricacies of this reorganization were executed by a collaborative team from DLA Piper and Al Lawati Law, encompassing the transfer of the operational business and assets of National Life and General Insurance Company SAOG Oman (NLGI) to RSA Oman, operating under the name Al Ahlia Insurance (Al Ahlia). Notably, NLGI, a company listed on the Muscat Stock Exchange, holds a 47.5% stake in Al Ahlia, with the remaining 52.5% stake owned by RSA Bahrain, a wholly owned subsidiary of NLGI.
Will Seivewright, Partner and Head of Corporate (Middle East) at DLA Piper, expressed his satisfaction with their pivotal role in this landmark integration: “We take pride in our involvement in this transformative integration, which has reshaped the insurance landscape in the region. It paves the way for Liva to realize its aspiration of becoming the region’s foremost multi-line insurance provider.” The DLA Piper core team featured notable legal professionals, including Paul McViety (Partner, Finance), Mona Lemp (Legal Director, Corporate), Sam Bellagh (Associate, Corporate), and Rami Zayat (Legal Director, IPT).
Mehdi Al Lawati, who spearheaded the Al Lawati Law team, shared his sentiments on their contributions: “We are honored to have played a role in facilitating the seamless reorganization of two major players in the insurance industry, this milestone marks the culmination of extensive collaborative efforts from DLA Piper and Al Lawati Law and lays the foundation for a stronger collaboration in the future. We express our gratitude to Liva’s stakeholders and employees for their trust during this transition and we eagerly anticipate continuing to support Liva’s growth and its strategic vision to become a leading insurance provider globally.
Liva Group is a leading insurer in the region with strong technical capabilities and customizable solutions across all lines of insurance, underpinned by exceptional service. With an employee strength of 1200 employees, serving more than 1.5 million customers, Liva has established operations across GCC markets, including Oman, Saudi Arabia, the United Arab Emirates, Kuwait, and Bahrain, with entry plans in Qatar. The Group also includes wholly owned subsidiaries NSSPL providing shared services, based in India as well as TPA services via Inayah based in the UAE to support its business growth.
