MEDGULF Signs Health Insurance Contract with Saudi Electricity Company

The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF) announced on Monday that it has been awarded a contract by the Saudi Electricity Company (SEC) to provide health insurance services for the company’s employees and their dependents. The contract duration is one year, beginning January 1, 2025.

According to MEDGULF’s statement on “Tadawul,” the contract value exceeds 40% of the company’s total revenues, based on the latest audited financial statements for the year 2023.

The company expects this agreement to have a positive impact on its financial performance and profitability in 2025.