Successful mergers between Saudi insurers

Saudi Central Bank (SAMA)According to the Saudi Central Bank (SAMA), recent mergers between insurance companies have witnessed great success.

SAMA still supports local insurers to accelerate M&A transactions to align the market with the "KSA Vision 2030" development strategy.

Through this initiative, the regulator aims to strengthen the competitive capabilities of the sector and encourage the creation of new insurance products and services.

In 2020, the Saudi insurance market has seen several mergers of companies including:

  • Aljazira Takaful Taawuni and Solidarity Saudi Takaful
  • Saudi Enaya Cooperative Insurance and Amana Cooperative Insurance
  • Walaa Cooperative Insurance and MetLife AIG ANB Cooperative Insurance
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