LIVA, Malath appoint financial advisors for potential merger

Logos of LIVA Insurance Co. and Malath Cooperative Insurance Co.

LIVA Insurance Co. and Malath Cooperative Insurance Co. appointed financial advisors for their potential merger.

In a statement to Tadawul LIVA said that it named SNB Capital as financial advisor for the process.

For More Mergers and Acquisitions

In a separate statement, Malath noted that it hired Alinma Investment as financial advisor.

Announcements will be made later for any future developments once they are available, both insurers said.

According to data compiled by Argaam, LIVA and Malath signed, in August, a non-binding memorandum of understanding (MoU) to evaluate a potential merger.