A report seen on Risknews website said the company started selling insurance on December 3.
Thus far, two life insurance companies were operating in the local market, namely Middle East Life Insurance and Baran Life Insurance -- collectively accounting for 3.7% of the market.
The number of firms in this segment is set to reach five as the regulator has granted license to two other firms, namely Hamerz Life Insurance Company and Isatis Life Insurance Company.