GIG says S&P upgrades credit rating to ‘A’ with stable outlook

Logo of Gulf Insurance Group (GIG)

Gulf Insurance Group (GIG) received, June 24, a notification from Standard & Poor's Global Ratings announcing an upgrade on its long-term insurer financial strength rating from “A-“ to “A” with a stable outlook, the company said in a statement to Tadawul.

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The upgrade follows the recent rating upgrade of its parent company, Kuwait-based Gulf Insurance Group, according to S&P Global. This positive rating reflects S&P’s confidence in GIG’s strong financial position and expectations that the company will maintain solid operational performance and capital adequacy over the next two years.

GIG reaffirmed its commitment to upholding the highest standards of financial and operational excellence, aiming to meet stakeholder expectations and strengthen its market leadership.