GIG obtains SAMA approval to add protection and savings insurance activity to its license

Gulf Insurance Group “GIG” said on Monday it received Saudi Central Bank approval on 20/08/2023 to add protection and saving insurance to the company’s license. With This addition, the company becomes licensed to engage in the following activities:

– Reinsurance

– General Insurance

– Health Insurance

– Protection and Saving Insurance

GIG expects a positive effect on sales volume throughout this activity starting from the fourth quarter 2023, and this will also be reflected positively on the company’s financial results for the year 2023.