Riyadh – Mubasher: The board of the Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) has accepted the resignation of the company’s CEO, Tariq bin Abdullah Al Naeem, which was submitted on 2 December 2020 for personal reasons.

The board delegated the firm’s chief operation officer (COO), Umar Al Mahmoud, to carry out the CEO duties starting from 6 December until a new CEO is appointed while also performing his current responsibilities, according to a bourse statement on Thursday.

During the third quarter (Q3), MedGulf posted a 43.8% annual growth in net profit before Zakat at SAR 7.6 million.