Magazine date:
May 2021 
Saudi Enaya Cooperative Insurance and Amana Cooperative Insurance have signed a merger agreement on 29 April 2021.
Upon completion of the transaction, Enaya's shareholders will hold 55% of the merged entity's capital while Amana's shareholders will receive the remaining 45%.
The deal is still pending approval by the shareholders and the competent authorities.
It should be recalled that discussions between Saudi Enaya and Amana have been ongoing since October 2020. A non-binding memorandum of understanding (MoU) was signed between the two companies to assess the merger's feasibility.
Read also | Saudi Enaya rejects merger project with Amana [4]