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- Southern Province, Yanbu Cement extend key merger talks
- Burgan Bank appoints Al-Roomi as Deputy General Manager
- NBK 'first bank to launch automated safe deposit boxes' for customers
- Zain Omantel International takes home four major industry awards
- Income Tax key step for revenue diversification: Economy Minister
- Qatar Stock Exchange index soars to new heights amid regional tensions
- Dollar falls against other currencies
- UAE FinTech market likely to grow from $3.16 billion in 2024 to $5.71 billion by 2029
- Al Mal Capital REIT announces follow-on public offering
- Saudi Arabia's Non-Oil Industrial Sector Grows 5.3% in 2024
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 | 178.00 | 2.20 (1.25 |
| TAWUNIYA | 153.80 | 4.00 (2.67 |
| ALRAJHITAKAFUL | 120.20 | -1.00 (-0.83 |
| RASAN | 84.50 | 0.60 (0.71 |
| QATI | 1.89 | 0.02 (1.06 |
25/06/2025
Southern Province Cement Company has announced that it has entered into a non-binding agreement with a leading Saudi cement group Yanbu to explore a potential merger.
The duo had an year ag
Trade Arabia
25/06/2025
Burgan Bank announced the appointment of Mohammed Al-Roomi as Deputy General Manager of Information and Cyber Security Management. This strategic appointment reflects the Bank's unwavering dedication
Kuwait Times
25/06/2025
In line with its commitment to enriching its customers' banking experience and providing the best innovative digital services that meet their needs, the National Bank of Kuwait announced the launch o
Kuwait Times
25/06/2025
Zain Omantel International (ZOI), the joint venture between Zain Group and Omantel, has earned four prestigious international awards - underscoring its position as a connectivity powerhouse in the re
Kuwait Times
25/06/2025
Al Mal Capital REIT, the first REIT listed on the Dubai Financial Market (DFM), on Tuesday announced a follow-on public offering (FPO) on its closed ended Real Estate Investment Trust (REIT).
Khaleej Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia