Malath Cooperative Insurance Company and Liva Insurance Company have agreed, on a non-binding basis, to pursue a merger under a structure where Liva would merge into Malath, the companies said in a joint statement.
The announcement follows a feasibility study on the merger and the General Authority for Competition’s no-objection to the economic concentration resulting from the proposal.
The companies clarified that the merger remains under evaluation, and no binding agreement has been signed. Should an agreement be finalized, the merger will require approvals from the Insurance Authority, the Capital Market Authority, Tadawul, and shareholders of both firms.
