“Walaa Insurance” accounts for 88% of “Aspire” with 68 million riyals

Walaa Insurance Company announced that it has received a non -reluctance letter from the Dubai Financial Services Authority, to acquire 88% of the ownership of Aspire MGA.
The company said in a statement on “Saudi Arabia Trading”, today, Sunday, that by referring to its announcement on April 30, which included receiving a letter of non -reluctance from the Saudi Insurance Authority to acquire 88% of the ownership of Aspire Andreang Agency, the Limited, it received the Dubai Financial Services Authority to complete the acquisition.
The value of the investment is estimated at about 68 million riyals, and it is expected to have a positive impact on the financial results of the company as of the end of the fourth quarter of the year 2025.
This acquisition comes in line with the desire of “Walaa” to expand and diversify the reinsurance incoming work.