GIG adds protection, savings insurance activity to license

Logo of Gulf Insurance Group (GIG) 

Gulf Insurance Group (GIG) received, on Aug. 20, the Saudi Central Bank’s (SAMA) approval to add protection and savings insurance to the company’s license, the insurer said in a statement on Tadawul. 

 

With this addition, the company becomes licensed to engage in reinsurance, as well as general, health, protection, and savings insurance activities.

 

GIG expects a positive effect on its sales volume throughout this activity starting from Q4 2023, and this will also be reflected positively on the company's financial results for 2023, the statement added. 

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