Completion of Arabia Insurance Jordan Merger into Jerusalem Insurance

Jerusalem Insurance has announced the completion of the merger of Arabia Insurance Jordan into the company, following the fulfilment of all legal and regulatory requirements and the receipt of the necessary approvals from the relevant authorities, as part of the process, Arabia Insurance Jordan has been officially deregistered as the merged entity.اضافة اعلان

Following the merger, Jerusalem Insurance has become the surviving company and the legal successor to Arabia Insurance Jordan, assuming all its rights, obligations, and liabilities in accordance with the provisions of the Jordanian Companies Law.

As part of completing the merger process, Jerusalem Insurance increased its paid-up capital to 17,706,170 JD through the issuance and allocation of new shares to the non-controlling shareholders of Arabia Insurance Jordan, this step reflects the approved legal and financial framework of the transaction while safeguarding the interests of all shareholders.

The merger represents a significant strategic milestone and the start of a new phase in Jerusalem Insurance's journey — bringing together the expertise, capabilities, and resources built up by both companies, strengthening the company's financial position, solvency, and competitiveness, and providing a broader base for growth, expansion, and the development of insurance solutions and services.

Commenting on the occasion, Mr. Imad Morrar, Chief Executive Officer of Jerusalem Insurance, said:

"Today marks the beginning of a new chapter built on strength, integration, and sustainable growth.

Completing the merger is not the end of a process, but the start of a broader phase of growth and development by bringing together the expertise and capabilities of both companies and unifying best practices and resources, we are well positioned to deliver more advanced and efficient insurance solutions while creating greater value for our customers, shareholders, and business partners.

At the same time, we remain fully committed to ensuring the uninterrupted continuity of all rights, obligations, and services throughout the transition."

Jerusalem Insurance will continue to honor all insurance and legal obligations previously undertaken by Arabia Insurance Jordan while completing the integration of operations, systems, and services.

The company is committed to ensuring a smooth transition that protects the interests of customers, shareholders, employees, and all stakeholders.

This merger marks the beginning of a new phase in Jerusalem Insurance's own journey and in Jordan's insurance market, further strengthening the company's ability to deliver comprehensive insurance solutions, respond to customer and market needs with greater efficiency and flexibility, build sustainable value for its various stakeholders, and contribute effectively to the growth and sustainability of the insurance sector in the Kingdom.