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- Kingdom's film revenue hits $225m, Riyadh takes biggest share
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- NBK successfully issues KD 150m Tier 2 subordinated bonds
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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 | 150.90 | -2.60 (-1.70 |
| TAWUNIYA | 122.40 | -2.60 (-2.08 |
| ALRAJHITAKAFUL | 95.60 | -6.10 (-6.00 |
| RASAN | 115.60 | 2.00 (1.76 |
| QATI | 2.00 | 0.00 (0.00 |
24/11/2025
National Bank of Kuwait (NBK) announced the successful issuance of KD 150 million Tier 2 subordinated bonds, aimed at enhancing Tier 2 capital adequacy in accordance with Basel III requirements and t
Kuwait Times
24/11/2025
In a landmark move that reaffirms its position as a leader in financial innovation, National Bank of Kuwait (NBK) has announced the launch of Kuwait's first-ever Point-of-Sale (POS) financing solutio
Kuwait Times
24/11/2025
The National Bank of Oman (NBO) has successfully completed the issuance of its Additional Tier 1 (AT1) capital securities in Regulation S format, securing a strategic transaction that drew strong int
Muscat Daily
24/11/2025
The Board of Directors of Oman Telecommunications Company (Omantel) on Sunday announced the appointment of Aladdin bin Abdullah Bait Fadhil as the company's new Chief Executive Officer.
Prio
Muscat Daily
24/11/2025
Ithmaar Bank, a Bahrain-based Islamic retail bank, has appointed Naif Alnasser as Head of Asset Management and Remedial Management Unit (RMU), reporting to Ithmaar Bank Chief Executive Officer, Maysa
Trade Arabia
Financial Information Co.
Saudi Arabia