"Baker McKenzie Advises Buruj Cooperative Insurance on Landmark Merger with Medgulf"

"Baker McKenzie successfully advised Buruj Cooperative Insurance Company on its merger with Mediterranean and Gulf Insurance and Reinsurance Company (Medgulf), approved on October 23, 2025. The merger integrates Buruj into Medgulf, with Medgulf issuing new shares to Buruj’s shareholders. This landmark transaction strengthens the Saudi insurance sector, creating a more resilient platform and setting a precedent under the Insurance Authority's new framework. Baker McKenzie provided legal counsel, led by Nadine Nassar and her team."

Baker McKenzie advised Buruj Cooperative Insurance Company (“Buruj”) on its merger with the Mediterranean and Gulf Insurance and Reinsurance Company (“Medgulf”). The transaction involved the merger of Buruj into Medgulf, with all of Buruj’s rights, liabilities, assets, and contracts being subsumed by Medgulf. In exchange, Medgulf issued 33,157,894 new ordinary shares, each with a nominal value of SAR 10, to Buruj’s shareholders. This merger is expected to create a stronger insurance platform with enhanced operational capabilities and broader customer reach across the Saudi market. It is the first successful public merger completed under the newly established framework of the Insurance Authority. Baker McKenzie acted as lead counsel to Buruj, with the legal team led by Nadine Nassar, Senior Counsel, and supported by Lama Alhabib, Thamer AlZayer, and Alma Alghamdi.

"Baker McKenzie Advises Buruj Cooperative Insurance on Landmark Merger with Medgulf"

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