Saudi insurance rivals Amana, ACIG unveil initial plans for possible merger

RIYADH: Saudi Arabia’s two listed insurers, Amana Cooperative Insurance Co. and Allied Cooperative Insurance Group, are exploring a potential merger. Both parties announced in separate stock exchange filings that they entered into a memorandum of understanding for the merger, which will expire a year from now. Based on the terms of the MoU, the method used for valuation will

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