Walaa acquires majority stake in DIFC-based MGA Aspire

Walaa Cooperative Insurance Co., a listed Saudi insurer, completed its acquisition of an 88% stake in Aspire Underwriting Agency Ltd. (AUAL), a Managing General Agent (MGA) based in the Dubai International Financial Centre (DIFC).
The transaction was approved by both the Dubai Financial Services Authority (DFSA) and the Saudi هيئة التأمين | Insurance Authority and is valued at approximately SAR 68 million (USD 18 million).

MGA AUAL specialises in facultative reinsurance across energy, power, and property lines.

Founded in 2017, AUAL writes business in over 100 countries, supporting energy companies to meet their re/insurance needs.