MEDGULF secures 1-year contract to provide medical insurance services for SEC employees

02/12/2021 Argaam

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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