Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has started initial discussions with Amana Cooperative Insurance Company to explore the possibility of a merger between the two companies.

In case an initial agreement is reached, a non-binding memorandum of understanding (MoU) will be signed between the two insurers to assess the feasibility of the merger, subject to obtaining necessary approvals before completing the merger, according to a bourse filing on Monday.

Further details will be provided in due course, Saudi Enaya said.