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Saudi Arabian insurers Walaa, Al Sagr drop merger talks due to 'nonfeasibility'

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Saudi Arabian insurers Walaa, Al Sagr drop merger talks due to 'nonfeasibility'

Walaa Cooperative Insurance Co. said on Sept. 5 that it has terminated merger talks with Al Sagr Cooperative Insurance Co. due to nonfeasibility.

The two Saudi insurers had said in April that they would sign a nonbinding memorandum of understanding to explore a merger.