Riyadh – The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) has received an award letter from Saudi Electricity Company (SEC) to provide cooperative health insurance services to SEC’s employees and their families.
The contract’s value exceeds 5% of MedGulf’s gross written premiums (GWP) as per the financial statements for 2019, according to a stock exchange statement on Wednesday.
The insurance services will be provided for one year effective from 1 January 2021.
MedGulf expected the deal to have a positive effect on its financials for 2021.
Source: Mubasher
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