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Two Saudi Arabian insurers explore merger opportunity

Posted On: Sep. 27, 2022 10:01 AM CST


Saudi Arabia-based insurers Al Sagr National Insurance Co. PSC and Gulf Union Al Ahlia Cooperative Insurance Co. have signed a non-binding memorandum of understanding to evaluate a potential merger between the two companies, Middle East Insurance Review reported. Both insurers will conduct operational, technical, financial, legal, and actuarial due diligence and discuss the terms and conditions of the potential merger.