GIG Saudi: Standard & Poor's rating

Standard & Poor's (S&P) has assigned a financial strength rating of A- and a national rating of ksaAAA to Gulf Insurance Group (GIG Saudi). The outlook is stable.

The rating reflects the company's capital adequacy, business diversification and conservative investment portfolio.

Listed on the Tadawul stock exchange, GIG Saudi is 50% owned by the Kuwaiti GIG Group, while the remaining 50% is divided between local investors, where each shareholder's stake does not exceed 5%.