The business combination deal between International General Insurance Holdings (IGI) and Tiberius Acquisition Corporation is nearing the finish line.
Last month the Bermuda Monetary Authority granted the green light; now it’s the turn of the Dubai Financial Services Authority to give its regulatory nod to allow the IGI-Tiberius transaction to move forward.
Meanwhile the specialist commercial (re)insurer has also received share exchange agreements from its existing shareholders holding 100% of the issued and outstanding IGI common shares. IGI said this is in excess of the 90% threshold as set out in the business combination agreement with Tiberius, a special purpose acquisition firm.
Currently IGI is still awaiting approval from the UK’s Prudential Regulation Authority.
