Riyadh – Mubasher: Malath Cooperative Insurance and Reinsurance appointed Al Inma Investment as a financial advisor to manage its merger with Allied Cooperative Insurance Group (ACIG).
The merging process is subject to obtaining the regulatory approvals and the resolution of the company’s extraordinary general meeting (EGM), according to a bourse filing.
In March, the boards of the two Saudi-listed insurance companies had decided to commence a preliminary agreement to study the economic feasibility of a merger.
