Highlights from the Year

Fairfax MTO process completed, increasing ownership to 97.06%

Shareholders elected new Group Board with Mr. Bijan Khosrowshahi as Chairman and Mr. Khaled Saoud Al Hasan as Vice Chairman and Group CEO

Merger of AIG‑Egypt with GIG‑Egypt finalized, expanding market share

FY 2023 financial results announced with net profit of KD 21.2 million

A.M. Best upgraded Group’s ICR to ‘a+’ and affirmed FSR at ‘A’

S&P affirmed ratings and revised outlook to ‘Positive’

Moody’s affirmed IFSR at ‘A2’ with Stable outlook

Launch of GIG‑Egypt mobile solution for digital accident reporting and claim tracking

New Insurance Policy Administration System in GIG‑Algeria across 120 agencies

Core ERP systems implemented in GIG Kuwait Takaful for Medical and Life operations

Motor Survey Portal launched by GIG Bahrain to streamline digital assessments

Insurance Self‑Service Machine launched in Egypt to automate policy management

Group‑wide data analytics project launched to optimise reinsurance operations

New data center implemented in Ankara, with a disaster recovery site in Istanbul, to mitigate earthquake‑related business interruption in GIG Turkey

“Eagle‑Eye” platform pilot launched with Gen‑AI for pricing insights

Launch of First Regional Wellbeing Survey, offering health and well‑being insights

Signed strategic partnership with DHL Go Green Plus, cutting Scope 3 emissions

One‑time recycling initiative at Group level with measurable carbon savings

Mr. Farid Saber appointed as Group COO

GIG’s Annual General Meeting (AGM) and Extraordinary General Assembly Meeting (EGM) held, with all agenda items approved

Internal control framework developed to enhance IFRS 17 closing process oversight

Participated in GAIF 34 conference as Silver Sponsor, themed as ‘Sustainability and Inclusivity in the Arab Insurance Industry’

Annual Group CEO meeting held in Oman to align strategic direction and local market needs

FY 2023 Annual Report won Silver Award at the ARC Awards in the General Insurance category