About MIG

MIG Holding Ltd (MIG Group), part of the larger Mawarid Group, was established in the Dubai International Financial Centre (DIFC) in 2015 and it is licensed by the Dubai International Financial Centre Authority (DIFCA). The MIG Group roots go back to 1952 when the predecessor of Arab Commercial Enterprises Ltd. Was founded in Al-Khobar, Saudi Arabia.

The MIG Group Companies have been the pioneers of the Insurance Industry in the region for more than 68 years. The Group operations now spread across Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, UAE, Yemen, Lebanon and Greece. For many years the MIG Group Companies have had associations with major international players; those associations have enhanced the capabilities of the Group Companies giving them unparalleled local prominence with direct access to the world insurance markets.

MIG Group has evolved with time and it is now an investment vehicle in insurance related businesses within the Middle East & North Africa (MENA) region. MIG Group is regarded as the leading, private investor in insurance, reinsurance and related services within the Middle East. Within the MIG Group there are three investment vehicles, namely; …

ACE Gallagher Holding W.L.L.
The objective of this vehicle is to invest in insurance broking, reinsurance broking, insurance consultancy and insurance agencies / MGAs.

DAMANA Holding WLL
The objective of this vehicle is to invest in third party administration companies, insurance and reinsurance carriers.

Wakeel
Wakeel Price Comparison W.L.L. is focused on expanding MIG’s high-impact investments in specialized insurance services and unlocking emerging market opportunities throughout the region.

Mawarid Group of Companies was founded in 1968 and incorporated in its present structure in 1979. With a vision to be a solid pillar for the development of the Kingdom of Saudi Arabia, Mawarid has evolved over the years into a conglomerate of diverse commercial activities with a bold global reach and strong local roots.…

The Group’s mission is focused on growing its Founder’s legacy of a diverse investment portfolio while proudly maintaining the Group’s values of excellence, innovation, integrity and social responsibility.…

At present, the Group has investments in and operates numerous subsidiaries and joint ventures. Its activities span across various sectors including: financial services, media, telecommunications, electronics, trading, real estate, operation and maintenance (O&M), security services, manufacturing, mining, agri-business, restaurants, convenience stores and catering.…

The Group’s portfolio is organized under four main groups: Media & Telecommunications, Distribution & Trading, Projects & Services and Investments and Financial Services, which covers Mawarid’s interest in MIG, and a joint venture with American Express in the Middle East.…

Group Companies

A pioneer of the insurance industry in the Kingdom of Saudi Arabia, the ACE Group has earned the loyalty of its clients and the respect of its peers by continuously delivering service excellence for over 70 years. In line with the company’s growth vision, in 2021 ACE entered a strategic partnership within the MENA region with Gallagher, one of the world’s largest insurance broking and risk management firms.

FinAsure is a forward-looking digital holding company focused on transforming how consumers compare and access financial and insurance products across the region. Through innovation, technology, and customer-centric platforms, FinAsure owns and manages two independent businesses operating in complementary sectors.

Wakeel is a dedicated insurance comparison platform that enables users to compare coverage options, pricing, and benefits with ease, helping customers make informed protection decisions.

SIDB is a financial comparison platform focused on bank loans, credit solutions, and related products, providing consumers with transparent access to financing options tailored to their needs.

Together, these two businesses operate independently while benefiting from FinAsure’s strategic oversight, governance, technology support, and regional growth vision. FinAsure’s mission is to build trusted digital marketplaces that simplify decision-making, create transparency, and deliver greater value.

Driven by absolute transparency, Wakeel provides an unparalleled customer journey designed to simplify complex financial and insurance decisions. Backed by MIG’s deep-rooted expertise and global reach, Wakeel is committed to setting the regional standard for trust, clarity, and superior user experience in the insurance technology.

Smart Interaction for Digital Brokerage (SIDB) is a leading digital brokerage company focused on transforming access to finance for small and medium-sized enterprises across the Kingdom of Saudi Arabia. Through its flagship platform, Qardi, SIDB provides innovative financing aggregation services that simplify and accelerate the funding journey for businesses seeking growth capital, working capital, and other financing solutions.

By offering a seamless and user-friendly digital experience, Qardi connects SMEs with a network of banks and financing institutions, enabling businesses to compare suitable options and access funding more quickly and efficiently. The platform is designed to reduce complexity, save time, and improve transparency, allowing business owners to focus on growth while securing the financing solutions that best meet their needs.

SIDB combines technology, market expertise, and a customer-centric approach to support the development of the SME sector, which remains a key pillar of Saudi Arabia’s economic diversification agenda. The company operates under the supervision and regulation of Saudi Central Bank (SAMA), reflecting its commitment to the highest standards of governance, compliance, and trust.

DAMANA, is a leading insurance organization in the GCC. Originally founded in 1964, DAMANA offers a wide range of insurance solutions for personal and corporate use. DAMANA provides tailor-made solutions for its clients in most sectors of insurance and services clients locally through 7 offices in 5 countries in the Gulf and Lebanon. DAMANA’s growth, is powered by its team of over 200 specialized employees. DAMANA received its inaugural financial strength rating by AM best in 2015 and today, DAMANA helps clients aim for success, overcome hurdles and achieve their business aspirations DAMANA and SAICOHEALTH are registered trademarks for Saudi Arabian Insurance Company B.S.C. ( c ).

SAICOHEALTH is DAMANA’s dedicated medical insurance product, has propelled the company to a market-leading presence in the sector. Through its fully-owned third party administrator and its one card solution, SAICOHEALTH commits to the provision of world-class, full-service health coverage to corporate and private clients across the GCC and Lebanon.

Optivus is a newly established specialist Managing General Agent (MGA) focused on delivering innovative underwriting and risk solutions across the high-growth markets of Africa, the Middle East (including the GCC), and the Indian Subcontinent (AMEASA).

Headquartered in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, Optivus operates within one of the region’s leading international financial hubs, reflecting its commitment to strong governance, regulatory excellence, and market credibility.

Optivus partners with insurers, reinsurers, brokers, and distribution networks to design and manage tailored underwriting solutions that address the evolving needs of businesses and customers across diverse markets. Its capabilities include product development, delegated underwriting authority, portfolio management, and specialist risk placement, supported by disciplined underwriting standards and data-driven decision-making.

With a regional perspective and international outlook, Optivus is positioned to bridge capacity providers with underserved opportunities, creating efficient market access and delivering sustainable value to partners throughout the AMEASA region.

Board Members +

HH Fahd Bin Khalid Bin Abdullah Bin Abdulrahman Al Saud

Chairman of the Board

HH Ahmad Bin Khalid Bin Abdullah Bin Abdulrahman Al Saud

Deputy Chairman of the Board

Abdulaziz Abussuud

Board Member

Nagib Bahous

Board Member, President, and CEO

Michael Johnson

Board Member

Neal Johnson

Board Member

Imtiaz Ahmad

Board Member

Anupam Sahay

Board Member

Executive Committee Members -

Abdulaziz Abussuud

Chairman

Nagib Bahous

Member

Michael Johnson

Member

Anupam Sahay

Member

Board Member

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