Exquisite display in unprecedented market conditions
with a focused strategic direction
signifcant stake (60%) of Gulf
Efcient crisis management on
Covid – 19 pandemic situation to
avoid any business interruptions
and successfully made a transition
to remote working.
• Acquired 9.6% stake
in yallacompare (yc), a
leading online insurance
aggregator in the Middle
• Finalized fnancial impact
assessment of COVID-19,
stress testing and fnancial
planning and budgeting
across the group.
Successfully fnalized IFRS 17
Operational Gap Assessment
and Financial Impact
Assessment made by EY across
Formed the Group Digital Audit
Hub, a team of professionals
who would be enabling the
digital project implementation
and cascading the required
support to all gig subsidiaries.
• ‘Brand of the Year 2020’ award from
World Branding Forum.
• Acquired 65.2% stake in Gulf Takaful,
Kuwait through our subsidiary,
gig-Kuwait and in the process of
transferring the Group's Takaful
portfolio to Gulf Takaful in line with new
regulatory framework in Kuwait.
• Successfully commenced the share
capital subscription ofering on 17th
December 2020 to 31 December 2020
and was extended to January 2021.
• Acquired new Actuarial reserving
systems for Life and Non-Life
businesses across the group.
• Developed a unifed group risk
management policies and procedures.
• Entered into an agreement
to acquire AXA's insurance
operations in the Gulf Region for
a total cash consideration of US$
• Establishing the Anti-Financial
Crime unit and start enabling
continuous screening and profling
of gig clients through the top-
notch technologies in the feld
and automating the compliance
monitoring through the efective
usage of Galvanize compliance
• Shaikha Dana Nasser Sabah Al
Ahmad Al Sabah joined the Board
of Directors of gig.
• Increased gig’s Authorized
Share Capital to set at KD
35,000,000 through an
Extra Ordinary General
• Board of Directors decided
to Increased the Issued and
Paid up capital of the Group
from KD 18,703,913 to KD
20,123,913 by way of Rights
• ‘Decade of Excellence,
Insurance MENA’ award
from Global Banking &