| Element List | Explanation |
|---|---|
| Introduction | With reference to the results of the Extraordinary General Assembly meeting of the Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MEDGULF), held on Thursday 01/05/1447H corresponding to 23/10/2025G, which included the approval of the appointment of the candidates nominated by Buruj Company, Mr. Yasser Youssef Mohammed Naghi and Mr. Ziad Bassam Mohammed Al Bassam, to the new seats on the Company’s Board of Directors, subject to obtaining the non-objection of the Insurance Authority, for the current Board term commencing on 08/05/2025G and ending on 07/05/2028G. MEDGULF would like to announce that it has received the non-objection of the Insurance Authority dated 15/05/1447H corresponding to 06/11/2025G, which includes the approval of the appointment of two members to the new seats on the Board of Directors as follows: 1. Appointment of Mr. Yasser Youssef Mohammed Naghi 2. Appointment of Mr. Ziad Bassam Mohammed Al Bassam |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Yasser Youssef Mohammed Naghi |
| Membership Type | Non- Executive |
| Membership Start Date | 2025-11-06 Corresponding to 1447-05-15 |
| Brief Resume of the Appointed Member | Mr. Yasser Youssef Mohammed Naghi Holds a Bachelor's degree in Business Administration from King Abdulaziz University in Jeddah, with over 35 years of experience in trade, insurance, healthcare, and diversified industries. He is a seasoned executive recognized for his leadership as Chairman of the Board of Buruj Cooperative Insurance Company and his expertise in corporate management and business development. |
| The date of the approval by other official authorities | 2025-11-06 |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Ziad Bassam Mohammed Al Bassam |
| Membership Type | Independent |
| Membership Start Date | 2025-11-06 Corresponding to 1447-05-15 |
| Brief Resume of the Appointed Member | Mr. Ziad Bassam Mohammed Al Bassam Holds a Bachelor's degree in Business Administration from King Abdulaziz University in Jeddah, with over 36 years of experience in real estate development, insurance, and trade. He has held several leadership positions, most notably as CEO of Al Bassam Group and Board Member of Buruj Cooperative Insurance Company, and is recognized as a distinguished professional in business management and real estate investment. |
| The date of the approval by other official authorities | 2025-11-06 |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-11-03 Corresponding to 1447-05-12 |
| Board Approval | The appointment of the candidates nominated by Buruj Company, Mr. Yasser Youssef Mohammed Naghi and Mr. Ziad Bassam Mohammed Al Bassam, to the new seats on the Company’s Board of Directors has been approved during the Extraordinary General Assembly meeting held on 01/05/1447H corresponding to 23/10/2025G, subject to obtaining the non-objection of the Insurance Authority. |
| Additional Information | Not Applicable |
