The Mediterranean and Gulf Insurance and Reinsurance Co.’s (MEDGULF) board of directors appointed on Aug. 6, Umar Al-Mahmoud as CEO.
The appointment followed the Saudi Central Bank’s (SAMA) approval, according to a statement to Tadawul.
Al-Mahmoud holds a BA in Management Information Systems from King Fahd University of Petroleum and Minerals and he has an extensive experience in the insurance industry.
The insurer’s board decided on March 26 to terminate the contract of then CEO Goetz Kuras, with immediate effect. Al-Mahmoud was appointed acting CEO, Argaam earlier reported.
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