GUAI and GGI Secure Insurance Authority Approval for Merger

Gulf Union Alahlia Cooperative Insurance Co. (“GUAI”) and Gulf General Cooperative Insurance Co. (“GGI”) announced on Wednesday the approval of the Insurance Authority for the merger deal between them, and a number of other related matters.

They explained in a statement on “Tadawul” that the merger deal is subject to a number of other conditions that have not yet been met, which include the approval of the Capital Market Authority and the approval of the shareholders of both companies.