Arabia Insurance Cooperative Company announces the signing of a non-binding Memorandum of Understanding (the “MOU”) with United Cooperative Assurance Company on Thursday, 19 June 2025 to evaluate a potential merger between the two companies
The MOU would expire on the earlier of the signing of the merger agreement or 12 months after the date of the MOU. The MOU can be extended by mutual consent of the parties thereto. Each party has the absolute right to terminate the MOU by providing written notice to the other party at any time for any reason without liability in relation.