The shares of the Mediterranean and the Gulf Insurance and Cooperative Insurance Company, “Midgul Insurance”, listed in the Saudi market “Tadawul” by 4.43% at the end of the session today, Thursday, to close at the price of 16.50 riyals per share, achieving the largest daily gains in 30 sessions.
The trading on the share of Midgul Insurance at that time through 8076 trading operations, on 5.04 million shares with a value of trading 82.23 million riyals.
The highest price for the share was at that time at 17.03 riyals, while the lowest price was at 15.77 riyals per share.
The Mediterranean and the Gulf Cooperative Insurance and Reinsurance Company (Midgul) is one of the leading insurance companies in the Kingdom of Saudi Arabia, and was established under a royal decree on October 11, 2006, and it was registered commercially in April 2007.
Midgul works as a licensed cooperative insurance company, and provides a variety of insurance services, including health insurance for individuals and groups, vehicle insurance, public insurance, as well as protection and savings insurance, and reinsurance services.
The company’s capital is 1.05 billion Saudi riyals, distributed over 105 million shares, with a nominal value of 10 riyals per share. The market value of the company is estimated at more than 2.05 billion riyals, and in some reports reaches about 2.34 billion riyals.
Recently, “Midgalv” announced the signing of a binding integration agreement with the “Borouge Insurance Company”, and also concluded a contract with the Saudi Commission for Data and Artificial Intelligence (Sayya) to provide health insurance services to the staff of the Authority and their family members.
On the financial level, the company’s results for 2024 showed a decrease in net profits by 49.38%, as the net profit after Zakat reached about 101.99 million riyals, compared to 201.47 million riyals in 2023.
