Insurance industry urges Saudi government to grant incentives for M&As

Adel Abdulaziz Al-Essa, a spokesman for Saudi Arabia’s insurance industry, said that the government should provide incentives to encourage local insurers to merge, Middle East Insurance Review reported citing media sources. Mr. Al-Essa said that mergers are a necessary and strategic option for many insurers. Central bank Saudi Arabian Monetary Authority and insurance leaders have said that insurers should consider mergers and acquisitions to become more competitive.
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