Kuwait City: Gulf Insurance Group (GIG) announced that it achieved a net insurance result of KD 15.6 million (US$ 51.2 million) for the first half of 2025, compared to KD 16.6 million (US$ 54.4 million) for the same period last year.

Net investment income reached KD 28.2 million (US$ 92.4 million) for the first half of 2025, compared to KD 31.6 million (US$ 103.2 million) recorded for the same period last year.

Net profit stood at KD 12.6 million (US$ 41.1 million) for the first half of 2025, equivalent to earnings per share of 38.68 fils (US$ 0.127) compared to a net profit of KD 16.8 million (US$ 54.9 million) or 59.03 fils per share (USD 0.193) for the same period last year.

Insurance revenue reached KD 359.6 million (US$ 1.2 billion) compared to KD 449.2 million (US$ 1.5 billion) recorded for the same period last year.

The book value per share reached 864 fils as of June 30, 2025, compared to 852 fils as of December 31, 2024, an increase of 1.4%.

Equity attributable to the shareholders of the parent company amounted to KD 245.9 million (US$ 804.4 million) as of June 30, 2025, an increase of 1.4% compared to the equity attributable to the shareholders of the parent company as of December 31, 2024, which amounted to KWD 242.6 million (USD 793.3 million).

Total assets reached KD 1.26 billion (US$ 4.12 billion) as of June 30, 2025, compared to KD 1.24 billion (US$ 4.05 billion) as of December 31, 2024, an increase of KD 23.4 million (US$ 77 million), representing a 1.9% increase.

As it continues to strengthen its international footprint and capabilities, GIG remains one of the largest and most diversified insurance groups in the MENA region where it focuses on shaping a valuable insurance ecosystem.

The Group extended its gratitude to its customers, shareholders, namely FAIRFAX, and board members for their continued trust in the Group’s strategy, further thanking employees for their dedication and efforts and all the concerned authorities in the State of Kuwait for their continuous cooperation to develop the Kuwaiti insurance sector.

About GIG:

GIG is the largest insurance Group in Kuwait in terms of written and retained premiums, with operations in life and non-life as well as Takaful insurance. GIG has become one of the largest insurance networks in the Middle East and North Africa with companies in Kuwait, Bahrain, Jordan, Egypt, Turkey, Algeria, UAE, KSA, Oman, Qatar, Iraq, and Lebanon. Its reported consolidated assets stand at US$ 4.12 billion as at 30 June 2025.

Gulf Insurance Group enjoys the privilege of being the first triple-rated insurance Group in Kuwait. The Group holds a Financial Strength Rating of ‘A’ (Excellent) and issuer credit rating of ‘a+’ (Excellent) with Stable outlook from A.M. Best Europe – Rating Services Limited, a Financial Strength Rating of “A+” with Stable outlook from Standard & Poor’s and an Insurance Financial Strength Rating (IFSR) of ‘A2’ from Moody’s Investors Service carrying a Stable outlook.

GIG is a majority-owned subsidiary of Fairfax Financial Holdings Limited, a Canadian holding company listed on the Toronto Stock Exchange, which, through its subsidiaries, is primarily engaged in property and casualty insurance and reinsurance and the associated investment management.

The conversion rate applied is KD 0.305757 per US$1

Further information:
Khalid Al Sanousi               
Group Executive Manager,
Corporate Comms. & IR
khalids@gig.com.kw

Philemon Rajan
Manager, Corp. Comms. & IR
prajan@gig.com.kw