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29/05/2017 02:27 AST
The Mediterranean & Gulf Insurance & Reinsurance Co., a Saudi Arabian insurer known as MedGulf, is weighing putting itself up for sale, according to three people familiar with the matter.
MedGulf is working with the investment banking arm of Banque Saudi Fransi to evaluate strategic options for the company, two of the people said, asking not to be identified as the information is private. International insurers seeking access to the kingdom and large family firms within the country may be interested in the insurer, the people said.
MedGulf shares have fallen about 38 per cent this year, giving the Riyadh-based insurer a market value of about $446 million, according to data compiled by Bloomberg. No final agreements had been reached with any of the parties and MedGulf may still remain independent, the people said. MedGulf and Saudi Fransi Capital didn't immediately respond to requests for comment.
Saudi insurance companies are examining potential mergers to better compete in a crowded market. There are 35 insurance companies on listed on the Saudi stock exchange, according to data compiled by Bloomberg.
Malath Cooperative Insurance & Reinsurance Co. and Allied Cooperative Insurance Group in March reached a preliminary agreement to study the feasibility of a merger. The same month, Al-Ahlia Cooperative Insurance and Gulf Union Cooperative Insurance said they started initial talks for merger.
Gulfnews
25/09/2017
The Mediterranean and Gulf Insurance and Reinsurance Co. EGM held on Friday 22/09/2017 has approved the capital reduction. Thus, the fluctuation limits for The Mediterranean and Gulf Insurance and R
Tadawul
31/05/2017
The Mediterranean & Gulf Insurance & Reinsurance Co., a Saudi Arabian insurer known as MedGulf, denied it's considering putting itself up for sale.
MedGulf isn't exploring strategic option
Gulfnews
03/01/2014
A.M. Best Europe - Rating Services Limited has assigned the financial strength rating (FSR) of A (Excellent) and an issuer credit rating (ICR) of "a" to The Mediterranean & Gulf Insurance & Reinsuran
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| BUPAARABIA | 144.00 | 0.20 (0.13 |
| TAWUNIYA | 119.30 | -2.40 (-1.98 |
| RASAN | 118.60 | 0.60 (0.50 |
| ALRAJHITAKAFUL | 86.90 | 0.55 (0.63 |
| QATI | 1.93 | 0.00 (0.00 |
26/12/2025
As part of its ongoing support for the "Diraya" campaign, and on the occasion of the New Year holiday, Gulf Bank has provided a set of valuable tips to help travelers manage their finances wisely, pr
Kuwait Times
26/12/2025
Dukhan Bank has announced the launch of its UK Winter Spend Campaign, offering customers additional DAwards when using their Dukhan Bank Visa credit cards in the United Kingdom during the winter seas
The Peninsula
26/12/2025
Emsteel Group, a leading integrated steel and building materials manufacturer in the region, has announced a major step toward decarbonising steel production through collaboration with the Emirates N
Trade Arabia
25/12/2025
Ooredoo Qatar has launched its new eSIM solution for Internet of Things (IoT) devices, developed to support enterprises in simplifying device management, enhancing security, and scaling IoT operation
Gulf Times
25/12/2025
Ahlibank has been officially certified to the internationally recognised ISO 22301 standard for Business Continuity Management Systems (BCMS) by Intertek Global International.
This milestone
The Peninsula
Financial Information Co.
Saudi Arabia