Saudi insurer MedGulf denies it's considering sale of business

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

News

MEDGULF resume trading after capital reduction

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

Saudi Arabian insurer MedGulf said weighing sale of business

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

A.M. Best Assigns Ratings to Medgulf

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

Most Viewed Companies

Ticker Price Volume

Valuation

MEDGULF Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
BUPAARABIA 196.60 9.70 (5.18%)
TAWUNIYA 158.40 0.50 (0.31%)
RASAN 155.90 -0.10 (-0.07%)
ALRAJHITAKAFUL 118.10 0.10 (0.08%)
QATI 2.11 0.01 (0.47%)

Recent News

NBB plays key role as Joint Lead Manager in Bahrain's $1bn sovereign bond issue

18/06/2026

National Bank of Bahrain (NBB) acted as Joint Lead Manager and Bookrunner in Bahrain's successful $1 billion 10-year international bond issuance.

The bank's involvement reinforces its role

Trade Arabia

NBK launches rewarding cashback offers for new credit card customers

18/06/2026

As part of its firm commitment to providing a seamless and comprehensive digital banking experience, and its continuous dedication to rewarding its customers and delivering added value that meets the

Kuwait Times

Al Mohafaza Education Reschedules Interest-Free Loan with Related Party

17/06/2026

Al Mohafaza Company for Education has announced the rescheduling of an interest-free loan obtained earlier this year from Maroum Drilling Medical Services Company, a related party. The loan, valued a

Gulfbase

Dar Al Majed Real Estate Expands Presence with New Jeddah Sales Center

17/06/2026

Dar Al Majed Real Estate Company, known commercially as Al Majdiah, has announced the official opening of its new sales center in Jeddah. The facility is strategically located on King Abdulaziz Road

Gulfbase

NBB unveils Summer Cashback Campaign

17/06/2026

THE National Bank of Bahrain (NBB) has launched its Summer Cashback Campaign, offering credit cardholders the opportunity to maximise their international spending during the peak vacation season.

GDN Online

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap