MEDGULF (The Mediterranean and Gulf Insurance and Reinsurance Company)

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) is one of the cooperative insurance companies in the Kingdom of Saudi Arabia, offering insurance and reinsurance products for groups and individuals. The company was established as an independent entity by Royal Decree on October 11, 2006, and listed on the Saudi Exchange on April 16, 2007. MEDGULF is listed on the Saudi Exchange under trading symbol '8030' and has a paid-up capital of SAR 1.05 billion.

The company provides insurance services in general insurance, health insurance, and protection and savings insurance categories, including travel, aviation, property, marine, and specialized policies for banks and financial institutions. MEDGULF operates with a workforce of 500–1,000 employees and reported revenue of $863.7 million. The company has consolidated its activities since 1980 through successive acquisitions and mergers to provide a full range of insurance and reinsurance products and services.

MEDGULF is a leading regional insurance group operating through offices in Lebanon, Bahrain, Jordan, Qatar, Turkey, Saudi Arabia, Egypt, the United Kingdom, and the United Arab Emirates, serving more than 2.2 million insured members. A notable subsidiary is Medgulf Takaful, an Islamic insurance company established in 2007 and headquartered in Bahrain, which is 75% owned by MEDGULF and 25% by Allianz Europe Ltd.

Recent Leadership Developments

In 2025, MEDGULF appointed Yaser Yousef Naghi as Chairman of the Board and Rakan Abdullah Abunayyan as Vice Chairman for the board term commencing August 5, 2025 and ending July 5, 2028.