GIG is keen on foreign markets

Gulf Insurance Group (GIG) is intent on expanding its network of subsidiaries to new countries in the course of 2016. The Kuwaiti insurer has not concealed its interest in Turkish and Gulf markets. Such investments may be conducted by the insurer alone or through partnerships. Meanwhile, the group is seeking life license in Jordan where GIG is marketing products in the non-life and health classes of business.

In 2015, the Kuwaiti insurer approached the Algerian non life insurance company, l’Algérienne des Assurances, Algeria. In this country, GIG is the partner of Cash Assurances and the Banque Nationale d’Algérie within the life insurance joint-venture Algerian Gulf Life Ins. In 2016, GIG is expecting an increasing net profit of more than 10%.

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