MIG Group

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.

Preminen MENA Price Comparison W.L.L.
It is a vehicle created jointly with Preminen Price Comparison Holdings to invest and develop the Comparison Platform business in the MENA region. It aggregates MIG regional knowledge with Preminen Technological platform and worldwide business know-how on Comparison platforms.

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.

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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 ).

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Saicohealth Logo

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.

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The Company, jointly owned by MIG Holding WLL (MIG) AND Preminen Price Comparison Holdings (Preminen), is an investment Vehicle created to establish, develop and own price comparison businesses within the MENA region. The Company combines MIG’s rich and long insurance experience with Preminen’s cutting edge Technology & global know-how.

The Company will launch its Price comparison platform for the MENA region under the brand name Wakeel. Backed by decades of global experience in the insurance & other price comparison business, wakeel, operates with complete transparency and unparalleled customer journey and experience.

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Board Members