Amana, ACIG extend MoU to study potential merger

Logos of Amana Insurance and Allied Cooperative Insurance 

Amana Cooperative Insurance Co. and Allied Cooperative Insurance Group (ACIG) agreed on Sept. 2 to extend the memorandum of understanding (MoU) to evaluate a potential merger, for an additional six months from the expiration date.

In a statement to Tadawul, Amana said the MoU extension will be on the same previous terms and conditions. 

In September 2022, ACIG and Amana signed a non-binding MoU to evaluate a potential merger, Argaam earlier reported.

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