Saudi Re, MedGulf pen reinsurance contract

Deal is likely to have an impact on Saudi Re's financial results for 2021

  
Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company signed a one-year medical quota share reinsurance contract with the Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) effective from 1 January 2021.

The contract value is estimated at SAR 130 million while gross written premium (GWP) are estimated at SAR 177 million, according to a stock exchange statement on Sunday.

Moreover, the deal is likely to have an impact on Saudi Re's financial results for 2021.

Source: Mubasher

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