Gulf Insurance Group KSC (GINS)

Riyadh – Mubasher: Buruj Cooperative Insurance Company has announced that its majority shareholder Gulf Insurance Group (GIG) entered a binding agreement to sell its entire stake in the company to Cigalah Trading Establishment for SAR 121.83 …

Cairo - Mubasher: Moody's Investors Service (Moody's) has affirmed the insurance financial strength rating (IFSR) of GIG Insurance - Egypt (GIG Egypt), a subsidiary of Kuwait-based Gulf Insurance Group (GIG), at 'Ba2' and changed the outlook to …

Mubasher: AXA Mediterranean Holding (AXA Med) has completed the sale of its 28.05% stake in AXA Green Crescent Insurance Company (AXA GCIC) to Gulf Insurance Group (GIG). In early September, GIG has completed the acquisition of AXA’s operations in …

Mubasher: Gulf Insurance Group (GIG) has completed the acquisition of AXA’s operations in the Gulf region in exchange for $474.75 million after obtaining the necessary regulatory approvals. The transaction included AXA Gulf and AXA Cooperative …

Riyadh – Mubasher: Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie have advised Gulf Insurance Group (gig) on the acquisition of AXA’s insurance operations in the Gulf region for a value of $474.75 million. Under the terms of …

Mubasher: Gulf Insurance Group (GIG) will acquire French insurer AXA Group's operations in the Gulf region and the share of Yusuf Bin Ahmed Kanoo (YBA Kanoo) in AXA Gulf for $474.75 million. Under the agreement, Kuwait's Gulf Insurance will …

Mubasher: AXA, one of the largest global insurers, has inked an agreement with Gulf Insurance Group (gig) to sell its insurance businesses in the Gulf region, including AXA Gulf, AXA Cooperative Insurance Company, and AXA Green Crescent Insurance …

Mubasher: Gulf Insurance Group (GIG) announced the takeover of a 9.6% stake in Compareit4me Holdings Limited for $4.25 million. The acquisition deal is in line with the group’s strategy aiming to enhance and develop the deployment of modern …

Mubasher: The ordinary general meeting (OGM) of Gulf Insurance Group (GIG) approved the board’s recommendation to distribute cash dividends at 38 fils per share, 38% of the share’s nominal value, for the fiscal year (FY) 2019. The approval came …

Mubasher: Gulf Insurance Group reported an increase in profits for last year by 12% to KWD 13.3 million ($44 million), compared with KWD 11.9 million ($39.2 million) for 2018. In 2019, the company’s revenues amounted to a total of KWD 205 million, …

Mubasher: The Kuwaiti Ministry of Health has failed to repay KWD 57.8 million arrears to Afya Health, a project offering health insurance for Kuwaiti retirees, Gulf Insurance Group announced. The value of arrears is distributed over KWD 27.2 …

Mubasher: Gulf Insurance Group reported a 35.5% year-on-year (YoY) decline in profits during the third quarter (Q3) of the year, as shown by the company’s financial statements. Profits amounted to KWD 2.6 million ($8.58 million) in Q3-19, compared …

Mubasher: Moody’s has affirmed the insurance financial strength rating (IFSR) of Gulf Insurance Group at ‘A3’, with a stable outlook. The rating reflects the firm’s strong and leading position in its target markets as well as its well-established …

Mubasher: Kuwait Projects Holding (KIPCO) has increased its stake in Gulf Insurance Group on Wednesday, 11 September, Boursa Kuwait disclosed on Thursday. One of KIPCO’s board members has purchased around 208,852 shares in Gulf Insurance at a …

Mubasher: AM Best has affirmed Gulf Insurance Group’s Financial Strength Rating (FSR) at ‘A’ (Excellent), while its outlook has been revised to ‘Negative’ from ‘Stable’, according to a disclosure to Boursa Kuwait on Thursday. The rating agency …

Mubasher: Gulf Insurance Group reported a 34.5% year-on-year profit increase during the second quarter of 2019, registering KWD 4.37 million ($14.41 million). In the first six months of 2019, the group’s profit grew by 23.3% to KWD 8.11 million, …

Mubasher: Gulf Insurance Group (GIG) has won a KWD 307.8 million ($1.011 billion) contract from the Kuwaiti health ministry. Under the two-year contract, the insurance company will provide health care services to retired citizens in Kuwait, …

Mubasher: Gulf Insurance Group posted a 12.2% year-on-year rise in profits during the first quarter of 2019. The group logged a profit of KWD 3.74 million ($12.33 million) in Q1-19, up from KWD 3.33 million ($10.98 million) in Q1-18, according to …

Mubasher: Gulf Insurance Group has approved the board’s recommendation of distributing 36% of the par value as cash dividend for fiscal year 2018. The insurance company will pay 36 fils per share on 29 April to the entitled shareholders of record …

Mubasher: Gulf Insurance Group registered an increase of 18.2% in profits during fiscal year 2018 compared to the prior year. Earnings grew to KWD 11.9 million ($39.3 million) in FY18 from KWD 10.07 million ($33.2 million) in FY17, according to a …

Mubasher: Gulf Insurance Group announced that its bid was approved for the tender offered by Kuwait’s health ministry. The bid is valued at KWD 307.8 million for the tender that covers medical insurance for pensioners in Kuwait, according to a …

Mubasher: Gulf Insurance Group achieved an increase of 64.8% during the third quarter of 2018 compared to the same period last year. Earnings grew to KWD 4.02 million ($13.3 million) in Q3-18 from KWD 2.44 million ($8.1 million) in Q3-17, …

Mubasher: Gulf Insurance Group registered an increase of 3% in profits during the second quarter of 2018 compared to the same period a year ago. Earnings grew to about KWD 520,400 in Q2-18 from nearly KWD 507,100 in Q2-17, according to a bourse …

Mubasher: Gulf Insurance Group achieved an increase of 17.3% in profits during the second quarter of 2018 compared to the same period a year ago. Earnings grew to KWD 3.25 million ($10.75 million) in Q2-18 from KWD 2.77 million ($9.16 million) in …

Mubasher: S&P Global Ratings has affirmed the credit rating of Gulf Insurance Group at “A-” and downgraded the Outlook to “Negative” from “Stable”. This rating reflects the solid financial strength rating and its ability to meet financial …