GIG introduces protection and savings products in Saudi Arabia

Gulf Insurance Group (GIG) has been granted approval by the Saudi Arabian Central Bank (SAMA) to add the protection and savings insurance business to its license in the country.

The marketing of the new life products, which is scheduled to begin during the fourth quarter of 2023, is expected to have a positive impact on the company's financial results.

For the record, GIG was already authorized to operate in Saudi Arabia in the non-life, health and reinsurance classes of business.