First Insurance Company (ASE:FINS) agreed to acquire the remaining 23.75% stake in Yarmouk Insurance Public Shareholding Company for approximately JOD 1.4 million in stock in the week ending October 30, 2015. As part of the consideration, First Insurance agreed to issue approximately 1.76 million shares to Yarmouk shareholders. The combined company will operate as First Insurance Company. The transaction received approval from the shareholders of both First Insurance Company and Yarmouk Insurance. The transaction received approval from the Ministry of Industry and Trade on January 26, 2016 and from Jordan Securities Commission on February 18, 2016. The transaction was executed by the Securities Deposit Centre.


First Insurance Company (ASE:FINS) completed the acquisition of the remaining 23.75% stake in Yarmouk Insurance Public Shareholding Company on February 24, 2016.