Historic Milestones

2020
  • Acquired a sizeable stake in “yallacompare”.

  • Acquired a majority stake in “Gulf Takaful” through gig’s subsidiary (gig-Kuwait).

  • Acquired a majority stake in Gulf Warranties, KSA.

  • Entered into an agreement to acquire AXA’s insurance operations in the Gulf.

  • Successfully initiated to increase gig’s share capital.

2019
  • Increased Group’s stake in gig - Egypt and gig – Iraq

  • Won the AFYA contract for the second consecutive time.

2018
  • Increased stake in Takaful International Company in Bahrain.

  • Increased our stake in gig – Iraq (Dar Al Salam Insurance Co.) and gig – Egypt Life Takaful.

2017
  • Successfully acquired AIG – Turkey through Gulf Sigorta (gig- Turkey) and currently operating as one company under the name “Gulf Sigorta”.

  • Acquired Takaful International Company in Bahrain through gig - Bahrain

  • Increased our stake in gig – Iraq (Dar Al Salam Insurance Co.).

2016
  • Enjoys the privilege of being the first triple rated insurance company in Kuwait. (S&P, A.M.BEST and Moody’s).

  • Successfully acquired majority stake in Turins Sigorta, a Turkish non-life insurer and rebranded its name to Gulf Sigorta.

  • Increased our stake in Arab Orient insurance company-Jordan.

2015
  • Successfully acquired majority stake in Algerian non-life insurer, L’Algerienne Des Assurances (2A). Successfully established a life insurance company in

  • Successfully established a life insurance company in Algeria,

  • Algerian Gulf Life Insurance Company (AGLIC) & becomes an associate to gig.

  • Increased our stake in Arab Orient insurance company-Jordan.

2014
  • Successfully established the composite insurer, Gulf Insurance & Reinsurance (GIRI/gig –Kuwait).

  • Increased our stakes in “Arab Orient insurance company-Jordan”.

  • Increased our stakes in “Syrian Kuwaiti Insurance Company-Syria”.

  • Increased our stakes in our associate “Egyptian Takaful Property & Liability – Egypt”.

  • United Networks became associate company to gig .

2013
  • Successfully established a group, Gulf Insurance Group (GIG).

  • Increased our stake in Arab orient Insurance Co., Jordan, Fajr Al Gulf Insurance & Re insurance Co, Lebanon and Egyptian Life Takaful Co, Egypt.

  • Switched the investment in Egyptian Takaful /Property &Liability from available for sale to an associate Company.

2012
  • Participate in Alliance Insurance Company’s – UAE share capital & becomes an associate to GIG

2011
  • Acquired the majority stake in the Iraqi Composite insurer DAIC "Dar Assalam Insurance Company", listed in Baghdad Stock Exchange.

  • Established GlobeMed–Kuwait (Third party Administrator).

  • Increased stake in SKIC.

2010
  • Fairfax acquired a significant stake in Gulf Insurance.

  • Acquired Egyptian Life Takaful Insurance Company through GLIC.

  • Increase Stakes in AOIC, BKIC , GIC Life, Buruj and AMIG.

2009
  • Acquired the majority stake in Arab Orient Insurance Company (Jordan).

  • Slight increase stakes in Arab Misr Insurance Group (AMIG), Syrian Kuwaiti Insurance Company (SKIC) and Al-Fajr Insurance & Reinsurance Company (FAJR).

2008
  • Increased stake in BKIC.

  • Obtained official approval for Buruj Cooperative Insurance Company (BCIC) , Saudi Arabia.

2007
  • Increased GIG stake to be the major shareholder in Bahrain Kuwait Insurance Company BKIC and in Arab Misr Insurance Group (AMIG).

  • Established Gulf Life Insurance Company (GLIC).

  • Established Takaful Insurance Unit at Gulf Insurance, Kuwait.

2006
  • Increased ownership in both of Bahrain Kuwait Insurance Company (BKIC) and SPI.

  • Established Syrian Kuwaiti Insurance Company (SKIC).

2005
  • Acquired majority stake in Egypt's Arab Misr Insurance Group (AMIG).

2004
  • Formed Fajr Al-Gulf Insurance and Reinsurance Company (FAJR) by merger of ITI with Al-Fajr Insurance and Reinsurance Company.

  • Gulf Insurance holds the majority stake post-merger.

2000
  • Acquired a majority stake in Saudi Pearl Insurance (SPI) and in International Trust Insurance (ITI).

1996
  • Government of Kuwait divested 82% stake. KIPCO acquired majority stake

1977
  • Government acquired 82% stake from share capital of Gulf Insurance Company.

1962
  • Commenced operations; 2nd private insurance company in Kuwait.