Merger between Arabian Shield and Alinma Tokio Marine finalized

The merger between Saudi Arabian insurers Arabian Shield and Alinma Tokio Marine, announced on 13 December 2022, was finalized in early November. A share exchange agreement was signed between the two parties, leading to the delisting of Alinma Tokio Marine from the Tadawul stock exchange.

This is the sixth merger in the local insurance market. It falls within the framework of the "Saudi Vision 2030" strategic plan, which encourages mergers with a view to creating stronger companies capable of meeting market expectations.