Medgulf: H1 2021 results decline

Mediterranean and Gulf Insurance and Reinsurance (Medgulf) has published its half-yearly results for 2021. The turnover amounts to 1.321 billion SAR (351.78 million USD), a 12.6% drop compared to the 1.511 billion SAR (402.45 million USD) posted in H1 2020.

The net profit has decreased by 50.8% from 27.22 million SAR (7.24 million USD) as at 30 June 2020 to 13.39 million SAR (3.56 million USD) a year later.

At the end of the first semester of 2021, the net incurred losses stand at 748.27 million SAR (199.26 million USD) against 572.11 million SAR (152.379 million USD) during the same period of 2020, representing an increase of 30.8% over one year.