Solidarity and Aljazira sign a merger memorandum of understanding

Solidarity Saudi Takaful and Aljazira Takaful Taawuni have signed a non-binding memorandum of understanding (MoU) for a possible merger. The two companies will jointly analyze the technical, financial, legislative and actuarial aspects of the merger's terms.

The valuation will be based on the quity book value and the adjusted equity book value as of 31 December 2019, The agreemnt signed between the two parties expires by the end of September 2020.

Read also | Saudi Arabia insurance market