|20 February, 2020

Saudi Al Ahli Takaful, Chubb Arabia in initial talks over merger

Final decision is subject to official regulatory approvals

Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

Image used for illustrative purpose. Close-Up Of Rosary Beads With Coins And Text Blocks In Wooden Box On White Background.

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Riyadh – Mubasher: The boards of Al Ahli Takaful Company and Chubb Arabia Cooperative Insurance Company have started initial talks over a possible merger.

In case a merger agreement is reached, a non-binding memorandum of understanding (MoU) is set to be signed between the two insurers to evaluate the potential investment, the two companies said in separate bourse statements on Wednesday.

The bilateral discussions merely aim to explore mutual interests for the companies’ shareholders, and the final decision shall be subject to official regulatory approvals.

Source: Mubasher

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