Magazine date:
Jul 2012 Gulf Insurance Co. (GIC) was awarded an “A-“ for its financial soundness and credit rating while the outlook related to this rating is stable. The company has revised downwards the financial risks incurred by alleviating its securities portfolio. It has also reduced the volatility of its capital. Its progress has enabled the company to improve its operational performance and to remain one step ahead of its regional competitors. In 2011, the company’s value grew by 6% at 1.01billion USD while its turnover attained 134 million KWD (482 million USD). Gulf Insurance’ s main markets are Kuwait 52%, Jordan 19%, Bahrain 13% and Egypt 10%.