The company expects to close and announce the acquisition no later than March 31. LIC's stake in the acquired health insurance company will not be majority.

These expenses are not initially recorded on a company’s income statement for the period when the money changes hands. Instead, prepaid expenses are first recorded on the balance sheet as an asset.

AM Best has affirmed the Financial Strength Rating of B++ (Good), the Long-Term Issuer Credit Rating of "bbb" (Good) and the Egypt National Scale Rating (NSR) of aaa.EG (Exceptional) of Misr Life Insu ...