By : JD News Desk
Jordan Daily – Global credit rating agency AM Best has affirmed Gulf Insurance Group – Jordan (GIG-Jordan) Financial Strength Rating at “A-” (Excellent) and its Long-Term Issuer Credit Rating at “a-” (Excellent), both with a Stable Outlook.
GIG-Jordan remains the only Jordanian insurer to hold this rating, reinforcing its leading position in the local market. AM Best said the ratings reflect the company’s strong financial position, solid operating performance, neutral business profile, and robust enterprise risk management. The agency also highlighted the insurer’s strongest level of capital adequacy, diversified investment portfolio, and excellent liquidity and financial flexibility.
The affirmation further recognizes the strategic support GIG-Jordan receives from its parent company, Gulf Insurance Group, based in Kuwait, and the subsidiary’s importance within the regional group structure, the agency said in a statement seen by Jordan Daily.
Dr. Ali Wazaney, CEO of GIG-Jordan, welcomed the rating affirmation, saying it reflects the company’s commitment to providing clients with high levels of insurance protection.
AM Best, founded in 1899, is the world’s oldest credit rating agency specializing in the insurance sector. GIG-Jordan first received its AM Best rating in 2006.
Gulf Insurance Group is one of the largest and most diversified insurers in the Middle East and North Africa, offering a broad range of insurance products across 12 countries.
