Kuwait City: Gulf Insurance Group, one of the leading insurance service providers in the Middle East and North Africa, announced that it has been awarded several international awards throughout the year 2022. The awards reflect GIG’s commitment and focus on its core values, building long lasting, premium quality and rewarding relationships that are based on mutual respect.

GIG was recognized with eight prestigious awards as follows:

  • Most Diversified Insurance Group MENA 2022 by International Business Magazine,
  • Insurance Brand Of The Year MENA 2022 by Global Banking & Finance Review,
  • Most Sustainable Insurance Group, MENA 2022 by World Business Outlook,
  • Best Investor Relations Co. (Insurance)–Kuwait 2022 by The Global Economics,
  • Best Insurance Group MENA 2022 by World Economic Magazine,
  • Best General Insurance Company MENA 2022 by World Economic Magazine,
  • Brand of the Year 2022-23 by World Branding Awards
  • Most Admired Insurance Brand, MENA by Global Brands Magazine

These awards are absolutely a testament to GIG’s dynamic leadership, strategic direction and ability to meet the ever-changing business demands, coupled with its promising strategic developments despite a challenging market environment. GIG’s strive to be a regional insurance powerhouse through its regional expansion strategy, diversified product offering with an increased focus on product innovation, digital transformation journey with a customer centric approach, the brand performance and executions, operational and financial performance delivery, among other initiatives, were well appraised during the award selection process.

GIG’s significant commitment to the development of sustainability framework also stand at the top of the criteria where GIG aims to integrate environmental health, social and economic dynamism while simultaneously helping to build robust and more prosperous societies aligned with New Kuwait Vision 2035.

Mr. Khalid Al Sanousi, Group Executive Manager at GIG said: “It is our absolute pleasure to receive these profound recognitions. The year 2022 has unfolded significant positive turns for the Group. The successful launch of a corporate identity upgrade with an evolved brand and a historic milestone of celebrating 60 years of our operational excellence are few among them. Being one of the largest and most diversified insurance groups in the MENA region, we continue to be successful in diversifying our insurance offerings to ensure a sustainable growth and profitability in the markets we operate in. These recognitions, aligned with our regional profile and strength, pave the way to further enhance our business excellence and achieving corporate vision. ”

He added: “On the Investor Relations side, GIG successfully positioned its IR culture by applying best practices and standards across the Group. We practice an effective and structured communication program that gives an accurate and timely information to our valued investors, other stakeholders and financial markets locally, regionally and internationally.”

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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, Syria, Iraq and Lebanon. Its reported consolidated assets stand at US$ 4.3 billion as at 30 September 2022.

KIPCO – Kuwait Projects Company – is Gulf Insurance Group’s largest shareholder, followed by the Canadian-based Fairfax Financial Holdings Ltd.

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’ 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 ‘A3’ from Moody’s Investors Service carrying a Positive outlook.

Further information:
Khalid Al Sanousi 
Group Executive Manager,
Corporate Comm. & IR
khalids@gig.com.kw
Philemon Rajan
Deputy Manager, Investor Relations
prajan@gig.com.kw