Jerusalem Insurance completes Arabia Insurance merger, capital hits JD17.7m

What's the deal? Jerusalem Insurance CompanyDealroom has a profile for this one. Try Dealroom → has completed its merger with Arabia Insurance CompanyDealroom has a profile for this one. Try Dealroom → in Jordan, raising its capital to JD17.7 million. Jerusalem Insurance is the acquiring company and legal successor, assuming all rights and obligations of the merged firm under Jordanian Companies Law.

How it works. Jerusalem Insurance increased its capital by issuing and allocating shares to AICJ's non-controlling shareholders. Arabia Insurance Company has been deregistered following completion of the merger.

Why now? The deal followed the fulfilment of legal and regulatory requirements and the securing of necessary approvals.

What it means. The merger combines the two insurers' expertise, capabilities and resources. Jerusalem Insurance said it will continue to fulfil AICJ's insurance and legal obligations while integrating systems, procedures and services.

Read more: The Jordan Times

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