Saudi Insurance Authority approves MedGulf and Buruj merger

The Saudi Arabian Insurance Authority (IA) approved the merger between Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) and Buruj Cooperative Insurance Company on 7 September 2025.

The transaction, already cleared by both the IA and the General Authority for Competition (GAC), is still subject to final approval by the Capital Market Authority (CMA) and the shareholders of both companies.

As a reminder, MedGulf and Buruj signed a merger agreement on 26 July 2025, which would be carried out through a share exchange between the two parties.