MEDGULF: capital increase

Mediterranean and Gulf Insurance and Reinsurance (Medgulf) has submitted a request for capital increase to the Capital Market Authority (CMA).

The Saudi insurer aims to level up its capital to 420 million SAR (111.844 million USD) which shall rise from 700 million SAR (186.406 million USD) to 1.12 billion SAR (298.25 million SAR).