# MedGulf

MedGulf is an Insurance based in Riyadh, Saudi Arabia.

## Overview

- **Organization type:** Insurance
- **Headquarters:** Riyadh, Saudi Arabia
- **Region:** Middle East
- **Address:** 7731 King Saud Road Al Murabba, Riyadh 12624, Saudi Arabia
- **Founded:** 2006
- **Assets under management:** 894 (Altss estimate)
- **Website:** www.medgulf.com.sa
- **LinkedIn:** https://www.linkedin.com/company/medgulfsaudi

## Regulatory record

- **Reports private funds:** No

## About

MedGulf was established by Lutfi Fadel Al Zain. It provides insurance and reinsurance products covering health, motor, property, engineering, and aviation risks. The company serves clients across Saudi Arabia through its headquarters and two regional offices. MedGulf owns 100 percent of Buruj Cooperative Insurance Company and maintains controlling stakes in MedGulf Jordan at 56.2 percent and MedGulf Takaful at 75 percent. It also holds 90.5 percent of Omnilife in the United Kingdom and 100 percent of Addison Bradley & Co. The firm lists its primary operating company on the Tadawul exchange under ticker 8030. Operations extend to Bahrain, Lebanon, and Jordan. The firm maintains three additional offices and a statutory deposit valued at $28 million with SAMA. It sponsored the Ingate Global Insurance Conference in November 2025 and spoke at the IFoA Middle East Conference in September 2025. Service providers include Forvis Mazars as external auditor through 2024 and Crowe Solutions thereafter. MedGulf operates as a listed insurance group with direct ownership of operating subsidiaries rather than a fund or advisory structure. Its board includes representatives from founding shareholders including Abunayyan Trading and Cigalah.

## Sectors

- Insurance

## Offices

- Dammam, Saudi Arabia
- Jeddah, Saudi Arabia

## People

- Lutfi Fadel Al Zain — Founder
- Rakan Abdullah Rashid Abunayyan — Chairman
- Yasser Yousuf Mohamed Naghi — Chairman

## Questions

### Who runs investment decisions at MedGulf?

Lutfi Fadel Al Zain founded the firm. Rakan Abdullah Rashid Abunayyan serves as Chairman representing Abunayyan Trading. Yasser Yousuf Mohamed Naghi serves as Chairman post-merger through Cigalah.

### Does MedGulf participate in fund commitments or only direct deals?

MedGulf holds direct ownership stakes in operating subsidiaries. Confirmed positions include 100 percent of Buruj Cooperative Insurance and 56.2 percent of MedGulf Jordan.

### What is MedGulf's known posture on co-investments alongside external GPs?

MedGulf has held co-investor relationships with Saudi Investment Bank at 19 percent pre-merger, ORIX Corporation at 25.7 percent in Medgulf Bahrain, and International Finance Corporation at 14.1 percent.

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- [Bristol Retirement System](https://altss.com/profile/bristol-retirement-system)
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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/medgulf

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