Our Journey

A Regional Insurance Powerhouse in the Middle East and North Africa

Gulf Insurance was established in 1962. It is a public shareholding company listed on Boursa Kuwait and a consistent market leader in Kuwait in terms of premiums written. The Group is among the largest and most diversified insurance groups in the Middle East and North Africa region. Gulf Insurance Group is one of the leading private insurers (By Gross Premium Written) with a strong competitive market position in Kuwait, Jordan, Bahrain and Egypt. Furthermore, the Group has operations in UAE, Saudi Arabia, Turkey, Algeria, Oman, Qatar, Iraq and Lebanon. The Group's both revenue and earnings are well diversified geographically.

About GIG

We’re here to make
insurance more human.

  • Listed On

    Boursa Kuwait

  • Established

    1962

  • Years of Experiences

    62

  • Employees

    3950+

We’re shaping a valuable insurance ecosystem for the MENA region

Our Vision

Our Values

The message we bring to
the world.

Respect

The client is our most valuable asset.

Lasting

We have a long-term perspective on the value of our clients.

Rewarding

Investing in value-adding services, at a sustainable cost, in the interest of improving client loyalty and growing market share.

Our Mission

We are invested in providing rewarding experiences to customers, building loyalty with employees, creating value for stakeholders, and serving the community as a committed citizen.

I am delighted to see the transformation and growth of GIG from being a leading commercial and private insurer in Kuwait to the position where we stand today as a regional insurance powerhouse in the Middle East and North Africa. We are here in GIG to pursue value for our customers, shareholders, employees and community by offering innovative and highquality products and services that are tailored to meet their unique needs and to make insurance more human.

Over the years, GIG has established itself as a leader and pioneer in the insurance industry. We have achieved historic milestones, and our commitment to innovation and excellence has allowed us to maintain our position as a market leader in the region. We take pride in our reputation and are dedicated to upholding it in everything we do.

Aligned with our vision, we are pleased to share that GIG is committed to our Environmental, Social, and Governance (ESG) plan, and we are actively working towards integrating our sustainable business strategy, solid governance and making a positive impact in pursuit of a sustainable society across all markets we operate in. We believe that incorporating ESG principles into our business practices is crucial for long-term sustainability and creating value for stakeholders.

We remain committed to our core values and continue to invest in our people, products, and distribution channels to ensure that we remain at the forefront of the insurance industry in the region. We are dedicated to staying ahead of the curve by adapting a resilient business strategy with latest technological advancements required to meet the evolving needs of our customers and other stakeholders.

I would like to express my sincere gratitude to our customers, partners, and shareholders for making our journey exciting and successful throughout these years. We are committed to delivering our promises and providing the highest level of service to all of our stakeholders. Together, we will continue to build on our achievements and drive GIG to continue delivering unprecedented growth for a sustainable future.
Khaled Saoud Al Hasan

Farqad Abdullah Al-Sane

(KIPCO)

Group Chairman

Farqad Abdullah Al-Sane (KIPCO)

Group Chairman

Pursuing value, from Kuwait to the Middle East and North Africa region, we take pride in our historic milestones over the years by imprinting GIG in the hearts and minds of people as a leader and pioneer of insurance services with innovative products and distribution channels in the region.

2022 is a year of celebration for our family as we are marking GIG’s 60th anniversary, recognizing all the hardships that we faced throughout these years to be known as a Regional Insurance Powerhouse.

Despite the very challenging last two years with the worldwide pandemic environment, we have been strongly able to adapt and adopt a resilient business strategy with latest technologies required for emergent events to protect employees, customers. Transparency and quality relations are what have kept us to continue our success story and deliver our promises throughout these years.

During 2022, we are targeting to introduce new regional innovative products and evolved our brand to smartly position GIG proudly for the years ahead. Our regional expansion strategy has been accelerated in the past year by entering into two new markets of Oman and Qatar with the acquisition of AXA’s insurance operations in the Gulf region, which is considered as one of the largest acquisition in the region.

Following a successful digitalization experience, the transformation journey has been significantly progressed in all core areas despite pandemic challenges. The key focus of our digital strategy is to transform the Group into customer centric and data driven digital organization with a view to achieve sustainable competitive advantage and profitability. As importantly, our approach to Corporate Social Responsibility is also significant and we are always committed to coordinating and supporting initiatives that benefits society and functions as a dynamic member of the community in the markets we operate in. We are grateful for our clients, employees and other stakeholders for making our journey successful and are hopeful for a brighter future. Our quality relationships have always been our greatest asset and it is due to them that we have been able to grow.

Faisal Hamad Al Ayyar

Vice Chairman (Executive)

Faisal Hamad Al Ayyar

Vice Chairman (Executive)

Pursuing value, from Kuwait to the Middle East and North Africa region, we take pride in our historic milestones over the years by imprinting GIG in the hearts and minds of people as a leader and pioneer of insurance services with innovative products and distribution channels in the region.

2022 is a year of celebration for our family as we are marking GIG’s 60th anniversary, recognizing all the hardships that we faced throughout these years to be known as a Regional Insurance Powerhouse.

Despite the very challenging last two years with the worldwide pandemic environment, we have been strongly able to adapt and adopt a resilient business strategy with latest technologies required for emergent events to protect employees, customers. Transparency and quality relations are what have kept us to continue our success story and deliver our promises throughout these years.

During 2022, we are targeting to introduce new regional innovative products and evolved our brand to smartly position GIG proudly for the years ahead. Our regional expansion strategy has been accelerated in the past year by entering into two new markets of Oman and Qatar with the acquisition of AXA’s insurance operations in the Gulf region, which is considered as one of the largest acquisition in the region.

Following a successful digitalization experience, the transformation journey has been significantly progressed in all core areas despite pandemic challenges. The key focus of our digital strategy is to transform the Group into customer centric and data driven digital organization with a view to achieve sustainable competitive advantage and profitability. As importantly, our approach to Corporate Social Responsibility is also significant and we are always committed to coordinating and supporting initiatives that benefits society and functions as a dynamic member of the community in the markets we operate in. We are grateful for our clients, employees and other stakeholders for making our journey successful and are hopeful for a brighter future. Our quality relationships have always been our greatest asset and it is due to them that we have been able to grow.

Khaled Saoud Al Hasan

(KIPCO)

Board member and Group CEO

Khaled Saoud Al Hasan(KIPCO)

Board member and Group CEO

Pursuing value, from Kuwait to the Middle East and North Africa region, we take pride in our historic milestones over the years by imprinting GIG in the hearts and minds of people as a leader and pioneer of insurance services with innovative products and distribution channels in the region.

2022 is a year of celebration for our family as we are marking GIG’s 60th anniversary, recognizing all the hardships that we faced throughout these years to be known as a Regional Insurance Powerhouse.

Despite the very challenging last two years with the worldwide pandemic environment, we have been strongly able to adapt and adopt a resilient business strategy with latest technologies required for emergent events to protect employees, customers. Transparency and quality relations are what have kept us to continue our success story and deliver our promises throughout these years.

During 2022, we are targeting to introduce new regional innovative products and evolved our brand to smartly position GIG proudly for the years ahead. Our regional expansion strategy has been accelerated in the past year by entering into two new markets of Oman and Qatar with the acquisition of AXA’s insurance operations in the Gulf region, which is considered as one of the largest acquisition in the region.

Following a successful digitalization experience, the transformation journey has been significantly progressed in all core areas despite pandemic challenges. The key focus of our digital strategy is to transform the Group into customer centric and data driven digital organization with a view to achieve sustainable competitive advantage and profitability. As importantly, our approach to Corporate Social Responsibility is also significant and we are always committed to coordinating and supporting initiatives that benefits society and functions as a dynamic member of the community in the markets we operate in. We are grateful for our clients, employees and other stakeholders for making our journey successful and are hopeful for a brighter future. Our quality relationships have always been our greatest asset and it is due to them that we have been able to grow.

Shaikha Dana Nasser Sabah
Al-Ahmed A Sabah(Amaken)

Group Chairman

Shaikha Dana Nasser Sabah
Al-Ahmed A Sabah(Amaken)

Group Chairman

Pursuing value, from Kuwait to the Middle East and North Africa region, we take pride in our historic milestones over the years by imprinting GIG in the hearts and minds of people as a leader and pioneer of insurance services with innovative products and distribution channels in the region.

2022 is a year of celebration for our family as we are marking GIG’s 60th anniversary, recognizing all the hardships that we faced throughout these years to be known as a Regional Insurance Powerhouse.

Despite the very challenging last two years with the worldwide pandemic environment, we have been strongly able to adapt and adopt a resilient business strategy with latest technologies required for emergent events to protect employees, customers. Transparency and quality relations are what have kept us to continue our success story and deliver our promises throughout these years.

During 2022, we are targeting to introduce new regional innovative products and evolved our brand to smartly position GIG proudly for the years ahead. Our regional expansion strategy has been accelerated in the past year by entering into two new markets of Oman and Qatar with the acquisition of AXA’s insurance operations in the Gulf region, which is considered as one of the largest acquisition in the region.

Following a successful digitalization experience, the transformation journey has been significantly progressed in all core areas despite pandemic challenges. The key focus of our digital strategy is to transform the Group into customer centric and data driven digital organization with a view to achieve sustainable competitive advantage and profitability. As importantly, our approach to Corporate Social Responsibility is also significant and we are always committed to coordinating and supporting initiatives that benefits society and functions as a dynamic member of the community in the markets we operate in. We are grateful for our clients, employees and other stakeholders for making our journey successful and are hopeful for a brighter future. Our quality relationships have always been our greatest asset and it is due to them that we have been able to grow.

Content...

HISTORIC MILESTONES

Full Milestone
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 Gulf’s insurance operations in the Gulf.

2021

  • Completed the acquisition of AXA’s operations in the Gulf region.

  • Increased GIG’s paid up share capital.

  • Placed KD 60 million Tier 2 bonds, First issuance by an insurer and Kuwait’s First Perpetual Bond in KD. 
     

2022

  • Celebrated GIG’s 60th anniversary reflecting its operational excellence.

  • Unveiled an EVOLVED BRAND, as a major transformation with an Identity Upgrade. 

  • Won the AFYA 3 contract for a period of 2 years, the mandatory health insurance policy for retired citizens.

AWARDS & RECOGNITIONS

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  • International Investor

  • International Investor

  • World Branding Awards

  • World Economic Magazine

  • The European Magazine

  • The European Magazine

  • Global Business Review Magazine

Corporate Profile

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