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MedGulf Won a Three-Year Contract From Saudi Basic Industries

May 28 (Bloomberg) -- Mediterranean & Gulf Insurance & Reinsurance Co., a Saudi Arabian insurer known as MedGulf, won a three-year contract from Saudi Basic Industries Corp., MedGulf said in a statement to the Saudi bourse website today.

The contract is for providing cooperative insurance services to Sabic’s employees and their families, and it may have a positive impact on MedGulf’s sales this year, the Riyadh-based insurer said in the statement.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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