News Middle East02 May 2023

Kuwait:Fairfax's proposed majority stake in GIG to leave regional giant insurer's ratings unchanged

| 02 May 2023

The Financial Strength Rating of 'A' (Excellent) and the Long-Term Issuer Credit Rating of 'a' (Excellent) of Gulf Insurance Group (GIG), with a 'Stable' outlook, remain unchanged following the recent announcement that Fairfax Financial Holdings is to acquire an additional 46.32% share of GIG from Kuwait Projects Company (Holdings) [KIPCO], says AM Best.

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