Alinma Tokio Marine appoints Yaqeen Capital as financial advisor for potential merger with Arabian Shield

Logos of Arabian Shield Cooperative Insurance and Alinma Tokio Marine

Alinma Tokio Marine Co. announced the appointment of Yaqeen Capital as a financial advisor for the proposed merger with Arabian Shield Cooperative Insurance Co., according to a statement to Tadawul.

The insurer will inform the market with any material developments in due course. 

On Dec. 13, Alinma Tokio and Arabian Shield signed a non-binding memorandum of understanding (MoU) on a potential merger, Argaam reported.

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