Gulf Insurance Group is 43.81% 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 2021, Gulf Insurance’s gross premiums written were 548.5 million KWD and net premiums written 267.9 million KWD (approximately KWD 0.3023 = US$1). At year-end, the company had total shareholders’ equity of 191 million KWD and there were approximately 3,800 employees.

Its subsidiaries include Gulf Insurance & Reinsurance Co., Kuwait; Bahrain Kuwait Insurance Co., Bahrain; Gulf Insurance Group B.S.C, Gulf (formerly AXA Gulf Co.); Arab Orient Insurance Co., Jordan; Arab Misr Insurance Group, Egypt; Gulf Sigorta, Turkey; Egyptian Life Takaful Co., Egypt; Dar Al Salam Insurance Co., Iraq; Fajr Al Gulf Insurance & Reinsurance Co., Lebanon; Gulf Warranties, Saudi Arabia; 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; 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.