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GovernanceConfirmedSaudi Arabia
Medgulf clears its accumulated losses out of the share premium account
Medgulf shareholders approved moving SAR 224.97m from the company's share premium account to erase the SAR 77.8m of accumulated losses it carried at the end of March. This is a balance-sheet tidy-up rather than fresh capital, the sort of step Saudi insurers take to stay clear of the companies-law loss thresholds that force mandatory restructuring once the deficit gets deep enough.
AI in insuranceCorroboratedKuwait
A Kuwaiti insurer signs Newgen to rip out and replace its core policy system
A Kuwaiti insurer has handed Newgen's UAE arm a KWD 875,000 mandate to replace its core policy administration system, bundling the licences, implementation and five years of support. Core-platform swaps are the expensive, disruptive work most Gulf carriers keep deferring, so a firm committing to one suggests its legacy stack has become the binding constraint on writing new business.
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