By: Ahmad Awad
Kuwait-Mubasher: Gulf Insurance Group is currently seeking expansion in the Turkish market, said CEO Khaled Al Hassan.
The expansion plan will be through a partner or by founding a company in Turkey, the CEO noted on the sidelines of Gulf Insurance’s ordinary general meeting. Gulf Insurance already exists in Egypt, Jordan, Bahrain, and Algeria.
Gulf Insurance has investments worth KWD 188 million ($620 million) in 10 markets, the CEO said, noting that the company’s operations in Lebanon is semi-suspended. Meanwhile, the KSE-listed firm owns 20% and 30% stakes in associates in KSA and UAE respectively.
The company has not yet received an official letter regarding the KWD 82.48 million ($271 million) tender which was announced in November 2015.
