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Al Ahli Takaful, Chubb Arabia in initial talks over merger

Al Ahli Takaful, Chubb Arabia in initial talks over merger
Final decision is subject to official regulatory approvals
ATC
8130
-0.88% 39.50 -0.35
CHUBB
8240
-0.56% 44.00 -0.25

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.