Consolidation of the Saudi insurance market

The board of directors of Walaa Insurance Cooperative Company and that of Al Sagr Cooperative Insurance have approved the next merger of both companies. The financial, technical and legal aspects of this move will be finalized during the next six months.

Malath Cooperative Insurance and Allied Cooperative Insurance on the one hand and Gulf Union Cooperative Insurance and Al Ahlia Cooperative Insurance on the other hand, also stand among the local insurers having started a merger procedure.

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