State of Kuwait Directory - Gulf Insurance Company

Gulf Insurance Company K.S.C. (GIC) was established in 1962. GIC is a public shareholding company listed on the Kuwait Stock Exchange and a market leader in Kuwait in terms of premiums written, both in life and nonlife insurance.

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Address : Ahmed Al-Jaber St., Al-Sharq, Kuwait
Phone : 1802080
Fax : 22961998

With operations in both life and non-life insurance segments, GIC is currently the largest insurance company in Kuwait in terms of written and retained premiums, its activities are further supported by first class reinsurance security and the company raised its S&P (Standard & Poor’s) Financial Strength Ratings to 'A-' on Strengthened Risk Controls And Capitalization; Outlook Stable. A.M. Best Europe – Rating Services Limited has also assigned a financial strength rating of A- (Excellent) and issuer credit rating of "a-" to Gulf Insurance Company K.S.C. (GIC) (Kuwait). The outlook assigned to both ratings is stable. The ratings of GIC reflect its strong regional business profile, good profitability and adequate level of risk-adjusted capitalization.

GIC provides innovative and comprehensive insurance solutions and covers a variety of risks related to Motor, Marine & Aviation, Property & Casualty, and Life & Health Insurance both in conventional and takaful (Islamic insurance based on Shariah principles) basis. The company prides itself in its distinguished quality of products and superior customer service. GIC enjoys lending utmost professional and personalized attention to both individual and corporate clients in their current and future insurance needs.

INSURER OF CHOICE By cultivating a team of over 150 life and non-life insurance consultants trained to offer clients the most practical advice and dedicated attention and with a growing network of over 15 branches accessible throughout Kuwait, the company has been able to realize its pledge to be the “insurer of choice”.

Over the years, GIC has grown from being a leading personal and commercial insurer in Kuwait into a regional insurance solutions provider in Middle East and North Africa.

ITS SUBSIDIARIES INCLUDE: AMIG: Arab Misr Insurance Group – Egypt AOIC: Arab Orient Insurance Company – Jordan BKIC: Bahrain Kuwait Insurance Company - Bahrain DAIC: Dar Al Salam Insurance Company -Iraq ELTC: Egyptian Life Takaful Company - Egypt FAG: Fajr Al-Gulf Insurance & Reinsurance Company – Lebanon GLIC: Gulf Life Insurance Company - Kuwait SKIC: Syrian Kuwaiti Insurance Company - Syria GlobeMed Kuwait - Kuwait

AND ITS AFFILIATE INCLUDES: BURUJ: Buruj Cooperative Insurance Company KSA ALLIANCE: Alliance Insurance Company K S C UAE AL ARGAN: Al Argan International Real Estate Company Kuwait

TECHNOLOGY EDGE ‘GIC’s state-of-the art internet based information technology system links of all its operations and that of subsidiaries to a mainframe. This process has immensely contributed to the company’s efficiency in issuing policies, handling claims, keeping financial accounts, allowing online access to its overseas subsidiaries and reinsurers and thus renders comprehensive insurance solutions beyond boundaries. A complete database of clients has been built allowing improved customer relationship management, which is a crucial step in customer retention. GIC is the first insurance company in Kuwait and in the region to commence online sale of Motor, Marine, Travel and Domestic Helper policies via www.clickgic.com. GIC was the first insurance company in Kuwait and the region awarded the ISO 27001 Certification in Information Security Management Systems by the British Standards Institution (BSI). Recently, GIC was awarded as the “Insurance Company for the year-Middle East’ by World Finance, London and it also won the “International Quality Crown” award from Business Initiative Directions, Spain. Arabian Business Award 2011 was also handed to GIC as Kuwait’s Insurance Market Leader. In 2012 the recent recognition for GIC was “The Best Insurance Provider Middle East 2012” as per the rating from Global Banking and Finance Review and GIC has also won "WORLD FINANCE INSURANCE COMPANY OF THE YEAR 2012 KUWAIT AWARD". Most recently GIC has won “The Best Insurance Provider Middle East 2013” from Global Banking and Finance Review which was the latest recognition.

For the Third year in a row GIC obtained the leading Brand in Kuwait SuperBrands 2011 certificate after it passed the selection criteria developed by the Council of brands, and announced by Superbrands Organization.

GIC also recently launched its custom made iPhone application as part of its continued efforts to promote customer convenience with better, safer and easier access to various policies round the clock. Now customers can issue and renew Motor and Boat TPL insurance, renew Motor comprehensive insurance, and issue Travel Assist insurance and many other services on the move. The services can be obtained locally and abroad via K-NET or credit cards and customers can collect their policy from GIC branches or can utilize the GIC delivery service, guaranteeing delivery within 48 hours.

GIC is the first insurance company to partner with Metal & Recycling Co. (MRC) on a waste management program called "Newair" by recycling paper and plastic bottles by promoting environmental awareness within the company as an initiative in Corporate Social Responsibility "CSR". GIC built a recycling structure committed to Go Green and to lead the way in such concept THE JOURNEY AHEAD GIC intends to implement many ambitious and futuristic projects in order to meet the ever-changing customer needs and exceed their expectations. Its dynamic leadership continuously strives to train and support human resources in order to develop the technical and administrative capabilities within the its group of companies. Apart from being committed to the advancement of insurance industry both in Kuwait and in the Middle East region, GIC plans to continue the regional expansion strategy towards establishing itself as a major player in the regional insurance markets and increasing its business portfolio. In this concern, GIC intends to strengthen its presence in the regional markets, emerge as a consolidator of businesses and develop a unified branding strategy.

GULF INSURANCE CO. MAIN SHAREHOLDERS: KIPCO Group - The KIPCO Group is one of the biggest holding companies in the Middle East and North Africa, with consolidated assets of US$ 26 billion as at 31 December, 2012. The Group has significant ownership interests in over 60 companies operating across 24 countries. The group’s main business sectors are financial services, media, real estate and manufacturing. Through its core companies, subsidiaries and affiliates, KIPCO also has interests in the education and medical sectors.

KIPCO’s financial services interests include holdings in commercial and investment banking, asset management and insurance companies. The Group’s core operating companies in this sector include Burgan Bank, United Gulf Bank and Gulf Insurance Company. In the media sector, the Group has a presence through the Orbit Showtime Network, the leading pay-TV operator in the region.

Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. Fairfax subsidiaries provide a full range of property and casualty products, maintaining a diversified portfolio of risks across all classes of business, geographic regions, and types of insureds. Fairfax’s corporate objective is to achieve a high rate of return on invested capital and build long-term shareholder value. The company has been under present management since 1985 and is headquartered in Toronto, Canada. Its common shares are listed on the Toronto Stock Exchange under the symbol FFH and in U.S. dollars under the symbol FFH.U.

Gulf Insurance Company

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