Gulf Insurance Group (GIG) Announces that It has been rated (A-) with stable outlook by S&P Global Ratings.
| Element List | Explanation |
|---|---|
| Announcement Detail | Gulf Insurance Group (GIG) announces that it received on 6, May 2024, a report from Standard & Poor's Global Ratings Agency confirming the company has been assigned a long term financial strength rating of (A-); Outlook stable.
In its report, Standard & Poor's said that GIG was granted this rating based on set of strengths factors, most notably the Company’s capital adequacy, diversified business mix, conservative investment portfolio with stable investment returns and strong reinsurance panel limiting any credit risk.
S&P has given a stable outlook for GIG due to its expectations that the company will continue to maintain its operating performance and capital adequacy over the next two years. |
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