Further to SAMA’s announcement dated 12 / 5 / 1439, corresponding to 29 / 1 / 2018, which includes preventing Medgulf from issuing or renewing any insurance documents, as of Tuesday 30 / 1 / 2018 due to the low solvency. The company is obligated to increase its capital to the necessary requirement to address the low solvency.

SAMA announced that it has decided to allow Medgulf to accept new subscribers, issuing and renewing of insurance policies as of Monday 16 / 4 / 2018. This is after the company took a number of measures to improve its solvency margin, in addition to the company’s commitment to the increasing of the company’s capital within the specified period and the applying of best practices of governance. Noting that in case the company does not commit to completing the necessary requirements, SAMA will take one or more actions.