Islamic Arab Insurance Co. (Salama) PJSC (DFM:SALAMA) agreed to acquire Takaful Emarat - Insurance (PSC) (DFM:TAKAFUL-EM) on October 2, 2022. The merger between Salama and Takaful Emarat is anticipated to be a non-cash transaction via the issuance of additional shares by Salama to Takaful Emarat shareholders to consummate the merger. SALAMA has obtained initial regulatory approval for a merger. The transaction is subject to due diligence, further negotiations between the parties, and regulatory approvals, including approval of Securities and Commodities Authority approval. The transaction is expected to be complementary and accretive to the shareholders. Salama expects significant merger synergies upon completion.

Islamic Arab Insurance Co. (Salama) PJSC (DFM:SALAMA) terminated the acquisition of Takaful Emarat - Insurance (PSC) (DFM:TAKAFUL-EM) on February 16, 2023.