Who is GIG?

A top 3 player in the GCC and the #1 composite regional insurer, present in 13 markets

Quoted on Kuwait Stock exchange with a very strong balance sheet and with “A” ratings from 3 renowned Rating Agencies (S&P, Moody’s and AM Best) that will reflect positively on GIG Gulf

Amongst the top 10 most valuable insurance companies, according to Forbes Middle East and awarded as 2021 General Insurance Company of the Year by MIIA.

Back by Fairfax and KIPCO, 2 strong international shareholders that are leading many success stories in the insurance industry

The power of new partnerships

“On behalf of the GIG family, we are delighted to welcome our new colleagues from AXA Gulf and AXA KSA. The successful completion of this transaction reinforces the continuous commitment to our strategic direction and strengthens our positioning to become one of the largest insurance players in the MENA region. The way ahead is full of opportunity, and we’re excited about the journey.”
Khaled Saoud Al Hasan
CEO, GIG Group & Board Member
“As AXA Gulf, we have always embraced change. AXA becoming part of GIG over the next few months, makes us stronger together. With the same people, processes, products and underwriting rules, we guarantee continuity and the high standards our customers expect. And with our new ambition, footprint and investment capacity, we look forward to more opportunities that will only grow in the future.”
Paul Adamson
CEO, GIG Gulf

Same people, quality and legacy

"With a stronger regional presence, GIG Gulf can become more relevant to our customers and closer to our partners."
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0:43
Caroline Bertrand
Chief Marketing, Digital & Customer Experience Officer
"As we become GIG, our whole workforce will start a new chapter, carrying forward our philosophy, and continuing to make a positive impact in the region."
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0:42
Despo Michaelides
Chief HR & Diversity Officer
"By retaining our people and our unmatched in-house expertise as well as our local, regional and international networks, we ensure for our brokers, customers and members, this will be a win-win."
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1:00
Laura Gerstein
Chief Employee Benefits Officer
"At GIG Gulf, we will further invest and leverage new technologies and digital solutions to make our customers’ lives easier."
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0:54
Franck Heimburger
Chief Personal Lines Officer
“By joining GIG Gulf, we will be gaining more flexibility as well as more autonomy which will positively impact our time to market.”
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0:55
Ricardo Arroyo
Chief Commercial Property & Casualty Officer
“We will further modernise our infrastructure and adopt more useful technologies to become closer and more relevant to our customers.”
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0:49
Javier Cásedas
Chief Information Officer

Business expertise

Franck Heimburger / March 2022 - Premium Middle East
Telematics: More Carrot, less Stick
Insurers must apply creativity to rethink the telematics model to overcome structural, regulatory…
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Despo Michaelides & Laura Gerstein / March 2022 - Khaleej Times
The Future of Insurance Event
#AXAGulf is proud that Despo Michaelides Chief HR & Diversity Officer and Laura Gerstein…
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Ricardo Arroyo / March 2022 - Middle East Insurance Review
Collaboration, innovation and technologies redefine the broker channel
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Ricardo Arroyo / February 2022 - Trends MENA
Data cover: GCC sees rise in cyber insurance demand
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Sweden at Expo 2020 in Dubai / March 2022
The Conscious Leadership 'Roundtable’ – speaking opportunity
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MENA Insurance Awards / January 2022
Health Insurer of the Year Award by MENA Insurance Awards 2022
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Frequently asked questions

Still have questions?

If you can’t find the answer in our dedicated FAQs, please contact us on:

Our journey to GIG Gulf

Agreement signing
The AXA Group entered into an agreement with Gulf Insurance Group (GIG) to acquire AXA's operations in the Gulf region.
November 2020
Approval
from the Central Bank of Bahrain
Formal approval received from the Central Bank of Bahrain (CBB) and notification provided to the branch regulator.
March 2021
Held EGM
Extraordinary General meeting (EGM) held between shareholders and executives to approve the transaction.
July 2021
Transaction
completion
GIG formally closed the transaction to acquire AXA Gulf and AXA KSA. The only fundamental change is that AXA Gulf will be renamed GIG Gulf.
August 2021
Regulatory
Approvals
GIG Gulf awaiting final regulatory approvals across markets. The company is preparing its people customers and operations for the brand transition
April 2022

Proven financial strength

GROSS REVENUE
$ 1.8 Billion
+23% increase over the previous year
NET PROFIT
$ 166 Million
+207% increase over the previous year
SHAREHOLDERS EQUITY
$ 1.0 Billion
+118% increase over the previous year
*Based on GIG Group financial year 2021 results.

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