The board of directors of the Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) has recommended a SAR 400 million capital increase, the company said in a statement to Tadawul.

 

The capital increase will be effected through a rights issue, and will help improve solvency and bolster business, the insurer said.

 

Shareholders of record till the second day after the general meeting date will be eligible for subscription.

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