MEDGULF started its activities in 1980 in Lebanon and expanded its activities to the Gulf area, specifically the Kingdom of Saudi Arabia and the Kingdom of Bahrain. With the backing of its shareholders, MEDGULF consolidated its activities through successive acquisitions and mergers to provide a comprehensive range of insurance and reinsurance products and services of the highest standards and reliability, thus creating a well balanced structure operating in many fields. Today, MEDGULF is a leading Arab and regional insurance Group providing the retail and institutional markets with comprehensive insurance coverage through its operations in Lebanon, KSA, Bahrain, UK, UAE, Turkey and Jordan.
Blaze to Brilliance
The company has a strong domestic business position in the Kingdom of Saudi Arabia (KSA) based on its strong current and prospective operating performance, its strong, cash-orientated investment strategies and liquidity. Medgulf today operates in 8 markets – Saudi Arabia, Lebanon, Bahrain, Jordan, Turkey, the UAE, Egypt, and the UK, with its headquarter in the Kingdom of Bahrain. With a comprehensive network of more than 650 health providers in the vast Kingdom of Saudi Arabia, Medgulf has made direct billing treatment accessible everywhere.
Their health provider network consists of seven different levels developed to suit each client’s different needs and budget. Their network covers all medical specialties in all locations, whether in big cities or remote towns inside the Kingdom of Saudi Arabia. Health insurance members can even seek onsite First Aid assistance wherever they are. The Medgulf Group had reported more than $880 million in Gross Written Premiums for the fiscal period ending on December 31st, 2010. This placed the group in a leading position among privately owned insurance groups within the Mena region, and among the top 5 insurance concerns in the region.
The Group enjoys its management philosophy built on an entrepreneurial spirit that allows it to respond swiftly to an ever-changing environment. In the Insurance & reinsurance sector, all their employees concentrate on adequate and friendly customer service and their highly qualified team of insurance specialists place great emphasis on tailoring insurance policies and programs to the specific needs and requirements of each client in order to maximize coverage at optimal cost. Their specific strengths and experience in complex products in engineering risks, aviation and property all risks, medical and life covers has lead the Group to its current prominent position in the insurance market in the Middle East. It has a TPA (Third Party Administrator) called MEDIVISA who manages and services the medical portfolio of the groups’ insurance plans. It has more than 250 highly qualified professionals; & manages a large portfolio encompassing more than 435,000 individuals. Medivisa operates a large network of healthcare service providers in more than 150 centers with which it applies efficient control protocols to claim management handling. With an experience of more than 20 years and more than 1.3 million insured members across the Saudi Kingdom, Medgulf has become one of the leaders in designing and managing hassle- free Group Health insurance schemes in the region.
Engagement that Enthralls
In 2007, some International Insurance industry leaders addressed more than 300 delegates at the Middle East Insurance Forum (MIEF), which is the region’s largest and most significant platform for the international and regional insurance industry to assess the potential and seize new growth opportunities in the dynamic Middle East insurance market. In this forum, MedGulf were the Gold Partners.
Medgulf has sponsored many events pertaining to Women employment like the National Meeting for Women Employment at Princess Noura Bint Abdulrahman University which was held between the 29th of April to 1st of May in 2012. The objective of the conference was to provide university graduates with suitable career opportunities that are right for their qualifications.
MEDGULF sponsoring such an exhibition is a part of its continuous endeavor to support all the exhibitions and conferences concerned with providing services and support to this country. Its sponsorship to women employment conference also takes place within the framework of its belief in Saudi women and the great role they play in development, and the importance of enabling university graduates to work, based on the knowledge they acquired during their studies.
Since inception, Medgulf has been amongst the early entrants for Middle Eastern insurance companies with operations across the region, offering competitive insurance product lines tailored to its diversified customer bases across the region. Their team of technically equipped and highly qualified professionals has succeeded in delivering tailor-made solutions to all forms of insurance problems gaining a prominent reputation and position in the insurance market in the Middle East. They cover a wide spectrum of services from complex products associated with engineering, aviation and industry to daily property, health and life risks.
Medgulf’s insurance specialist team constantly strives to design new insurance policies and products to fit the unique needs of the clients. They understand the special requirements of different clients, as well as the pressing needs of their day-to-day operations. That’s why they handle all the details while providing the client with the best personalized service throughout all the processes from research and risk assessment to risk management and transfer. They provide specialized and tailor-made insurance solutions at Medgulf to protect any marine business from loss or damage caused by an unavoidable event anywhere in the world.
The motto of the brand is “strong foundation for a secure future”. To achieve this motto, Medgulf is committed to provide individuals and businesses with solid security and quality service. With the objective of properly managing and optimizing the risk, Medgulf group is backed by an array of internationally renowned reinsurance companies in the United States and Europe. Medgulf Group is set to fix the damage done in the Middle Eastern markets to the image of the insurance industry by decades of wrongdoing and mistreatment. To achieve this goal, Medgulf is using professionalism, trustworthy security and a comprehensive network of branches and sister companies.