Who is GIG?
A top 3 player in the GCC and the #1 composite regional insurer, present in 13 markets
Quoted on Kuwait Stock exchange with a very strong balance sheet and with “A” ratings from 3 renowned Rating Agencies (S&P, Moody’s and AM Best) that will reflect positively on GIG Gulf
Amongst the top 10 most valuable insurance companies, according to Forbes Middle East and awarded as 2021 General Insurance Company of the Year by MIIA.
Backed by Fairfax and KIPCO, 2 strong international shareholders that are leading many success stories in the insurance industry
The power of new partnerships
“On behalf of the GIG family, we are delighted to welcome our
new colleagues from AXA Gulf and AXA KSA. The successful
completion of this transaction reinforces the continuous
commitment to our strategic direction and strengthens our
positioning to become one of the largest insurance players in
the MENA region. The way ahead is full of opportunity, and we’re
excited about the journey.”
Khaled Saoud Al Hasan
CEO, GIG Group & Board Member
“As AXA Gulf, we have always embraced change. AXA becoming part
of GIG over the next few months, makes us stronger together.
With the same people, processes, products and underwriting
rules, we guarantee continuity and the high standards our
customers expect. And with our new ambition, footprint and
investment capacity, we look forward to more opportunities that
will only grow in the future.”
Paul Adamson
CEO, GIG Gulf
Same people, quality and legacy
"With a stronger regional presence, GIG Gulf can become more
relevant to our customers and closer to our partners."
Caroline Bertrand
Chief Marketing, Digital & Customer Experience Officer
"As we become GIG, our whole workforce will start a new
chapter, carrying forward our philosophy, and continuing to
make a positive impact in the region."
Despo Michaelides
Chief HR & Diversity Officer
"By retaining our people and our unmatched in-house
expertise as well as our local, regional and international
networks, we ensure for our brokers, customers and members,
this will be a win-win."
Laura Gerstein
Chief Employee Benefits Officer
"At GIG Gulf, we will further invest and leverage new
technologies and digital solutions to make our customers’
lives easier."
Franck Heimburger
Chief Personal Lines Officer
“By joining GIG Gulf, we will be gaining more flexibility as
well as more autonomy which will positively impact our time
to market.”
Ricardo Arroyo
Chief Commercial Property & Casualty Officer
“We will further modernise our infrastructure and adopt more
useful technologies to become closer and more relevant to
our customers.”
Javier Cásedas
Chief Information Officer
Business expertise
Franck Heimburger / March 2022
- Premium Middle East
Telematics: More Carrot, less Stick
Insurers must apply creativity to rethink the telematics model
to overcome structural, regulatory…
Read more 
Despo Michaelides & Laura Gerstein / March 2022
- Khaleej Times
The Future of Insurance Event
#AXAGulf is proud that Despo Michaelides Chief HR & Diversity
Officer and Laura Gerstein…
Read more
Ricardo Arroyo / March 2022
- Middle East Insurance Review
Collaboration, innovation and technologies redefine the broker
channel
Read more
Ricardo Arroyo / February 2022
- Trends MENA
Data cover: GCC sees rise in cyber insurance demand
Read more
Sweden at Expo 2020 in Dubai / March 2022
The Conscious Leadership 'Roundtable’ – speaking opportunity
Read more
MENA Insurance Awards / January 2022
Health Insurer of the Year Award by MENA Insurance Awards 2022
Read more
Frequently asked questions
What has happened to AXA?
View
Can you tell me more about GIG, its strategy, and capabilities?
View
Is GIG a responsible and committed company?
View
Will GIG offer the same products as AXA?
View
Will I be able to purchase products and services at the same price?
View
Can I still buy, renew and make a claim?
View
Will I still have the same benefits and service?
View
Will there be any changes to call centre lines and contacts?
View
Will turnaround times change?
View
Are the contracts/policies we have in place still valid? If so, for how long?
View
Will this impact network coverage locally and/or internationally?
View
Will you be operating in any new markets as GIG Gulf?
View
When will the new company’s name be changed?
View
Why are signboards in branches and shops still showing the AXA Gulf name and logo and not the GIG Gulf name and logo?
View
Why in English and Arabic does the company’s new GIG Gulf legal name say “closed”?
View
Will there be any change to existing payment methods and bank information?
View
Will I be able to pay premiums or other amounts using existing payment modes and methods?
View
Will I be able to receive claims, benefits or pay-outs through existing methods?
View
Will there be any change in the Value added Tax (VAT) registration details of the Company?
View
Where will the new Headquarters be based?
View
Will my information be protected and secure?
View
Will there be any changes to my healthcare policy?
View
Will my network coverage change locally and/or internationally?
View
Can I still access the AXA Teleconsultation service?
View
Will my information be protected and secure?
View
Will I still be able to use my AXA medical card?
View
Will there be any changes to your call centre lines and contacts?
View
Will turnaround times change?
View
Will the MyAXA App still be available after the transition?
View
Will I be able to receive claims, benefits or pay-outs through existing methods?
View
Still have questions?
If you can’t find the answer in our dedicated FAQs, please contact us on:
Our journey to GIG Gulf
Agreement signing
The AXA Group entered into an agreement with Gulf Insurance
Group (GIG) to acquire AXA's operations in the Gulf region.
November 2020
Approval
from the Central Bank of Bahrain
from the Central Bank of Bahrain
Formal approval received from the Central Bank of Bahrain
(CBB) and notification provided to the branch regulator.
March 2021
Held EGM
Extraordinary General meeting (EGM) held between
shareholders and executives to approve the transaction.
July 2021
Transaction
completion
completion
GIG formally closed the transaction to acquire AXA Gulf and
AXA KSA. The only fundamental change is that AXA Gulf will
be renamed GIG Gulf.
August 2021
Regulatory
Approvals
Approvals
GIG Gulf awaiting final regulatory approvals across markets.
The company is preparing its people customers and operations
for the brand transition
April 2022
Proven financial strength
GROSS REVENUE
$ 1.8 Billion
+23% increase over the previous year
NET PROFIT
$ 166 Million
+207% increase over the previous year
SHAREHOLDERS EQUITY
$ 1.0 Billion
+118% increase over the previous year
*Based on GIG Group financial year 2021 results.
In the news
Featured
07 Sep 2021
- Arabian Business
Gulf Insurance Group completes acquisition deal for AXA
operations in region
Read more