RIYADH: Medgulf, a Riyadh-based insurance company, plans to invest over SR60 million ($16 million) during the next year, the company’s CEO has said in an interview with Al Arabiya.
Goetz Kuras said the company is witnessing a restructuring process to more than double its market share to 15 percent within five years, from the current 7 percent.
It is currently increasing its capital to improve its solvency, and will be raising SR420 million by the end of the month.
He also revealed that the business is open to the process of merging with other companies in the Saudi market.
