Walaa Insurance, Al Sagr sign MoU to study merger
26/04/2018
Argaam
Walaa Insurance Cooperative Company and Al-Sagr Cooperative Insurance Company on Thursday signed a non-binding memorandum of understanding (MoU) to conduct the technical, financial and legal due diligence of their proposed merger.
The MoU will end when the two insurers sign the merger agreement, or after six months from April 26, 2018.
Either company can terminate the MoU by written notice to the other party.
The merger process is subject to the regulatory approvals.
Last month, Malath Cooperative Insurance Co. and Allied Cooperative Insurance Group extended their initial agreement to study the feasibility of a potential merger for six months.
Other insurers that have looked at consolidation include Gulf Union Cooperative Insurance and Al Ahlia for Cooperative Insurance, which started talks last year for a potential merger.
The consolidation move comes after smaller firms suffered erosion of 50 percent or more of their capital in the Saudi insurance market.
Related News
| Walaa Insurance, Al Sagr to explore merger |
| Malath extends agreement to study merger with ACIG |
Market Indices
TASI
10,878.46
13.89
0.13 %
Quotes
ALSAGR INSURANCE
10.91
(0.10)
(0.91%)
WALAA
11.38
0.02
0.18%
About Us
Join Us
Argaam Tools is an advanced tool that provides investors, analysts, research houses, and corporate executives with easy access to a single source for in-depth data on macroeconomy, capital market, sectors, and companies insights.
Argaam.com Copyright © 2026, Argaam Investment, All Rights Reserved
Call Request
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}