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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 | 167.20 | -0.60 (-0.36 |
| TAWUNIYA | 142.20 | -2.20 (-1.53 |
| ALRAJHITAKAFUL | 158.00 | -5.60 (-3.43 |
| QATI | 1.97 | -0.03 (-1.50 |
| RASAN | 85.40 | 2.10 (2.52 |
03/03/2025
Zain Group, a leading provider of innovative ICT technologies and digital lifestyle communications operating in eight markets across the Middle East and Africa, serving 49 million customers, has deli
Trade Arabia
02/03/2025
OQ Exploration and Production (OQEP) has announced its financial results for the fiscal year 2024, achieving an EBITDA of RO614mn. The financial results highlight OQEP's continued ability to generate
Muscat Daily
02/03/2025
QLM, a leading force in the health and life insurance industry, held its Annual General Assembly meeting on February 26, 2025.The General Assembly approved distribution of cash dividends of 10% to sh
The Peninsula
28/02/2025
Saudi Aramco has slashed the official selling prices for propane and butane for March, according to a statement released on Thursday.
The new prices are set at $615 per tonne for propane and
Arab News
27/02/2025
stc Group, a digital enabler, offering advanced solutions and driving a role in the digitalization process, today (February 26) delivered solid results for FY 2024 with a 85% jump in its net profit w
Trade Arabia
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia