Gulf Insurance Group is 41% owned by Fairfax and operates as a joint venture with Gulf Insurance’s largest shareholder, Kuwait Projects Company (Holdings) or KIPCO. Gulf Insurance was established in 1962 and is currently the largest insurance company in Kuwait in terms of written and retained premiums. Gulf Insurance covers a variety of risks related to Motor; Marine and Aviation; Property and Casualty; Life and Health insurance. In 2015, Gulf Insurance’s gross premiums written were 185.9 million KWD and net premiums written 98.3 million KWD (approximately KWD 0.3034 = US$1). At year-end, the company had shareholders’ equity of 111.0 million KWD and there were approximately 1,600 employees.
Its subsidiaries include Arab Misr Insurance Group, Egypt; Arab Orient Insurance Company, Jordan; Bahrain Kuwait Insurance Company, Bahrain; Egyptian Life Takaful Insurance Company, Egypt; Fajr Al-Gulf Insurance & Reinsurance Company, Lebanon; Gulf Insurance & Reinsurance Company, Kuwait; Dar al Salam Insurance Company, Iraq; and its affiliates include: Buruj Cooperative Insurance Company, Saudi Arabia; Alliance Insurance Company, UAE; Al Argan International Real Estate Company, Kuwait; Egyptian Takaful Property & Liability Company, Egypt and United Networks, Kuwait.
Gulf Insurance is led by Mr. Khaled Saoud Al-Hasan, Group Chief Executive Officer, who has been with Gulf Insurance since 1978.
KIPCO Tower, Floor 42
Khalid Bin al Waleed Street
Block 5, Building No. 1
P.O. Box 1040
Sharq, Kuwait City - 13011
Tel: 965-1-80-20-80; 2296-1999
See www.gulfinsgroup.com for more information about Gulf Insurance, subsidiaries and its affiliates.
Gulf Insurance Group has a financial strength rating of "BBB+" by S&P and "A-" (Excellent) by A.M. Best.