Liva Insurance Co. Announces Expiry of MoU with Malath Cooperative Insurance Co.

24/03/2026 04:57 AST

Liva Insurance Co. announced on March 24, 2026 (1447/10/05H) the expiry of its memorandum of understanding (MoU) with Malath Cooperative Insurance Co., confirming that no binding agreement was reached and that negotiations regarding the proposed merger have ceased.

The MoU was initially signed on August 22, 2024 (18/02/1446H) as a non-binding agreement to evaluate a potential merger. Subsequent developments included the appointment of a financial adviser on September 8, 2024 (05/03/1446H), the non-objection approval from the General Authority for Competition on November 18, 2024 (16/05/1446H), and the announcement of the initial merger structure on December 2, 2024 (01/06/1446H).

On August 21, 2025 (27/02/1447H), the MoU was extended for six months. On February 23, 2026 (06/09/1447H), the term was extended for one additional month until March 23, 2026 (04/10/1447H), under the same terms and conditions. Liva has now confirmed that the MoU expired without renewal.

The company stated that it incurred costs related to advisers and covered half of the expenses associated with the application to the General Authority for Competition. No further financial obligations were reported.

Borsatalkhaleej