Saudi Arabia – Mergers of 4 insurers under study
Tuesday, 08 08 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
Mr. Adel Al Issa, the spokesman of insurance companies told “Al Eqtisadiah” that four companies applied for mergers i.e. “Malath insurance with ACIG” and “Al Ahlia insurance with Gulf Union”. However, these requests are still under study and need time to assess their results.
Moreover, Al Issa added that no mergers have taken place until now between insurance companies and there are still opportunities for mergers in order to build strong and competitive companies.
He clarified that the most important challenges faced by insurance companies are to cope with the changes and requirements of the Saudi Arabian Monetary Authority (SAMA) and the Council of Cooperative Health Insurance in order to improve the performance of the market.
Source: Al Eqtisadiah