A.M. Best affirms credit rating of gig-Bahrain
A.M. Best International yesterday affirmed the financial strength rating A- (Excellent) and the long-term issuer credit rating of “a-“ of Bahrain Kuwait Insurance Company (gig-Bahrain), and the outlook for both ratings is stable.
The rating reflects gig-Bahrain’s balance sheet strength which categorizes as very strong, strong operating performance, neutral business profile as well as an appropriate enterprise risk management.
Ebrahim Alrayes, CEO of gig-Bahrain, said this Credit Rating reflects the financial strength of the company and its ability to meet its obligations. He added that the company has an excellent record of profitability reflecting good underwriting performance for all types of insurance.
It is worth mentioning that Bahrain Kuwait Insurance Company (gig-Bahrain) is a subsidiary of Gulf Insurance Group (GIG) which is the largest insurance Group in Kuwait in terms of written and retained premiums, with operations in the life and non-life as well as Takaful insurance.