AM Best Affirms Credit Ratings of Gulf Insurance Group – Jordan

OCTOBER 08, 2026 11:15 AM (EDT)

AM Best Affirms Credit Ratings of Gulf Insurance Group - Jordan

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FOR IMMEDIATE RELEASE

LONDON - OCTOBER 08, 2026 11:15 AM (EDT)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Gulf Insurance Group - Jordan (GIG Jordan) (Jordan). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect GIG Jordan's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in lift from GIG Jordan's parent company, Gulf Insurance Group K.S.C.P. (GIG), reflecting the strategic importance of GIG Jordan to the group.

GIG Jordan's balance sheet strength is underpinned by the strongest level of risk-adjusted capitalisation, as measured by Best's Capital Adequacy Ratio (BCAR). GIG Jordan's BCAR scores are expected to remain comfortably at the strongest level, supported by good organic capital generation and measured growth. As a subsidiary of GIG, GIG Jordan benefits from good financial flexibility and a comprehensive group-wide reinsurance programme of generally excellent credit quality.

GIG Jordan has a record of underwriting profitability and in 2025, achieved a net-net combined ratio of 91.4% (2024: 88.0%). GIG Jordan has experienced relatively stable investment returns; the company's net investment yield (including capital gains) was 10.4% in 2025 (2024: 6.6%).

GIG Jordan has a leading position in its domestic insurance market, with a market share of approximately 17%. Despite its market leading position, the insurance market in Jordan is relatively small and fragmented. The company's underwriting portfolio is concentrated heavily towards medical and motor risks on a net insurance service revenue basis, which is a common characteristic of insurers in the region. GIG Jordan is integrated operationally with GIG, benefitting from support in areas such as reinsurance purchasing, risk management, reserving and investment management.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.