Riyadh – Mubasher: MetLife AIG ANB Cooperative Insurance Company has received the approval of the Saudi Arabian Monetary Authority (SAMA) on the merger with Walaa Cooperative Insurance Company.

The two companies will continue working to obtain required regulatory approvals, according to a statement to the Saudi Stock Exchange (Tadawul).

Completing the merger is subject to the approval of the required regulatory approvals, and the approval of the extraordinary meetings by the two companies’ respective general assemblies.

MetLife AIG ANB Cooperative Insurance and Walaa Cooperative Insurance signed a binding merger agreement back in September.