MIS signs agreement to acquire 15% stake in Eltizam Insurance Platform for SAR 19.5M

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) signed today, Jan. 28, an investment agreement, subscription and purchase agreement, with Eltizam Electronic Insurance Brokerage Co. to acquire a 15% stake in Eltizam car insurance platform, for a total value of SAR 19.5 million.

In a statement to Tadawul, the company said it would disclose any developments or updates in this regard in due course.

According to Argaam data, MIS’s board of directors approved in October 2025 the acquisition of a 15% stake in the Eltizam Insurance Platform as part of the platform’s investment round.

Based on the platform’s total valuation of SAR 130 million, the investment value equals SAR 19.5 million.