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31/05/2017 02:15 AST
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 options that could include a potential sale of the company and hasn't appointed Saudi Fransi Capital to advise on the process, a company spokesman said in an emailed statement on Monday.
Bloomberg reported on Sunday that the company is weighing putting itself up for sale, citing three people familiar with the matter. The report also cited two of the people as saying that MedGulf is working with the investment banking arm of Banque Saudi Fransi to evaluate strategic options.
Some Saudi Arabian insurance companies are examining potential mergers to better compete in a crowded market. There are 35 insurance companies listed on the Saudi stock exchange, according to data compiled by Bloomberg.
MedGulf shares rose 0.8 per cent on Monday, giving the Riyadh-based insurer a market value of about $427 million.
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
29/05/2017
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.
Me
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 | 151.70 | -1.00 (-0.66 |
| TAWUNIYA | 130.90 | 0.50 (0.38 |
| ALRAJHITAKAFUL | 119.30 | 1.30 (1.10 |
| RASAN | 92.15 | -0.05 (-0.06 |
| QATI | 2.06 | 0.01 (0.48 |
08/08/2025
Burjeel Holdings, a leading super-specialty healthcare services provider in MENA, has delivered a strong top-line growth of 18.7% to AED1,403 million ($381.98 million) in Q2 2025, driven by a 12.1% i
Trade Arabia
08/08/2025
Saudi Arabian Mining Company (Maaden) has reported a 73% jump in its net profit for the first half, which soared to SAR3.47billion ($924 million) from SAR2.01 billion ($535 million) last year, mainly
Trade Arabia
08/08/2025
Market heavyweight Industries Qatar (IQ) - the holding entity of Qatar Petrochemicals, Qatar Fertiliser and Qatar Steel - has reported net profit of QR2bn in the first half (H1) of 2025.
The
Gulf Times
08/08/2025
Aramex reported group revenues of Dh3.06 billion for the first half of 2025, marking a 1% year-on-year increase, as growth in domestic and regional logistics offset weakness in international express
Gulfnews
08/08/2025
Parkin Company PJSC, the city's largest paid public parking provider, reported a record 56% year-on-year rise in Q2 2025 revenue to Dh320 million, driven by higher public parking tariffs, strong enfo
Gulfnews
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia