Medgulf Receives Notice to Award Contract of Health Insurance Provision for SWCC

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) announced on Thursday that it has received on December 29 /2021, a notice to award the contract to provide health insurance services for the Saline Water Conversion Corporation (SWCC) employees and their families for one year.

The company stated on (Tadawul) that the contract revenues are expected to be greater than 5% of the 2020 annual gross written premium of (Medgulf) for Cooperative Insurance and Reinsurance.

The company indicated that the contract is expected to have a positive impact on (Medgulf) 2022 financial results.