Gulf Union names SKFH as advisor on potential merger with Al Ahlia

Gulf Union Cooperative Insurance Co. (Gulf Union) has appointed the Saudi Kuwaiti Finance House (SKFH) as its financial advisor to prepare a feasibility study on the potential merger with Al Ahlia for Cooperative Insurance Co. (Al Ahlia), the company said in statement on Tadawul on Wednesday.

Earlier this month, the insurers started an initial talk on the merger, which is subject to the approvals from the regulatory authorities and the shareholders of both companies.