Medgulf was the winner of this year's MEIF 2010 Insurance Company of the Year Award at the gala dinner of the 6th Annual Middle East Insurance Forum held at the Gulf Hotel in Bahrain.

The industry-wide nominations process for the winners started early this year with a call issued to all players to nominate the institution that had excelled in the development of innovative products and services that substantially advanced the regional insurance industry; and/or outstanding financial performance resulting from excellence in its operations.

'The Middle East insurance industry continues to offer huge potential for growth and the Insurance Company of the Year Award is a new initiative aimed at encouraging further excellence and innovation in the industry,' said Central Bank of Bahrain executive director for financial institutions supervision Abdul Rahman Al Baker.

Receiving the award on behalf of Medgulf was the company's chairman and chief executive officer Lufti Fadel El-Zein.

'We are delighted and indeed honoured to receive this accolade from our industry peers,' he said.

'This award is the culmination of so many years of hard work and dedication to service excellence and product innovation. This prestigious award will energise us towards even more accomplishments.'-TradeArabia News Service