Logo of The Mediterranean and Gulf Cooperative Insurance and Reinsurance Co.
The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) was awarded, on Dec. 1, a one-year contract to provide health insurance services for Saudi Electricity Co.’s (SEC) employees and their families.
Revenue from the contract is expected to grow by 5%, compared to MEDGULF’s 2020 gross written premiums (GWPs), the insurer said in a statement to Tadawul.
The contract is expected to have a positive impact on MEDGULF’s 2022 financial results.
There are no related parties to the deal, the company concluded.
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