Opening the door for nominations for membership in the Board of Directors of “Medgulf Insurance”

The Board of Directors of the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (Medgulf) announced the opening of nominations for membership in the company’s Board of Directors, for its next session, which will begin on 05/08/2025 AD and for a period of three calendar years ending on 05/07/2028 AD.
The company said in a statement on the Saudi Tadawul: The date of opening the nomination period is 06/04/1446, corresponding to 12/05/2024, while the end date of the nomination period will be 05/07/1446, corresponding to 01/05/2025.

Nomination policy and criteria

The candidate must fulfill the conditions for candidacy for membership in the Board of Directors contained in the relevant laws and regulations according to the following:
1. Fulfilling the general conditions for membership in the Board of Directors and the nomination requirements contained in the policies, standards and procedures for membership in the Board of Directors approved by the company’s General Assembly.
2. Submit an updated copy of the CV in addition to copies of qualifications and work experience.
3. Submit a suitability criteria questionnaire in Word format and a signed copy of it in PDF format issued by the Insurance Authority.
4. Submit a signed copy of Form No. (3) issued by the Capital Market Authority to nominate for membership in the Board of Directors.
5. Attach a clear and valid copy of the national ID card, as well as a copy of the family registry and passport for Saudis, and a copy of the passport and residence permit for non-Saudis – as available.
6. Providing any additional information or documents that the company may later request.
7. The candidate must not serve as a member of the board of directors of more than five joint stock companies at the same time
The Nominations and Remuneration Committee will study the applications of the candidates received, noting that voting in the General Assembly will be limited to those who have nominated themselves for Board membership in accordance with the controls and standards set forth in the policies, standards and procedures for membership in the Board of Directors, and whose information the company will announce in accordance with Paragraph (A) of Article Eight of the Corporate Governance Regulations. Companies issued by the Capital Market Authority.