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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 |
22/12/2025
Visa and Aldar have announced a strategic collaboration that marks the first live implementation of Visa Intelligent Commerce in the region, introducing end-to-end, voice-enabled agentic payment expe
Khaleej Times
22/12/2025
The National Bank of Bahrain (NBB) has signed a strategic agreement with Procural, a Bahrain-based digital procurement and tendering platform.
The collaboration supports NBB's ongoing digita
Trade Arabia
22/12/2025
Bahrain Ship Repairing & Engineering Company (BASREC) has signed a strategic agreement with Lumofy, an AI-powered talent development and competency management platform, as part of its commitment to a
Trade Arabia
22/12/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has announced that its Board of Directors has approved the appointment of Dr Shamsheer Vayalil as Chief Executive Off
Trade Arabia
22/12/2025
Aluminium Bahrain (Alba), the world's largest aluminium smelter on one site, has swiftly contained an industrial fire that broke out at a power rectiformer in the morning of December 19, a company st
Trade Arabia
Financial Information Co.
Saudi Arabia