The subsidiary of MAPFRE ASSISTANCE in the Middle East has reached an agreement with GIG (Kuwait’s leading insurance group) to provide travel insurance to Kuwait Airways customers who hold an Oasis Gold loyalty card.
With this agreement, MAPFRE ASSISTANCE begins to market its travel insurance in the Kuwaiti airline sector; also, both GIG and MAPFRE ASSISTANCE will be able to offer distinguishing added value and consolidate their position as suppliers of these customized solutions in Kuwait.
This collaboration confirms the expansion of MAPFRE ASSISTANCE in the Middle East; online bookings in this region have doubled between 2011 and 2014 due to a predominantly young population that is aware of new technologies and demands more travel insurance.
Gulf Insurance Group (GIG) was established in 1962 with the name Gulf Insurance Company KSC (GIC). It is a public shareholding company listed on the Kuwait stock exchange and the market leader in Kuwait in terms of issued premiums. Gulf Insurance has become one of the biggest insurance groups in the Middle East and North Africa, with subsidiaries in Saudi Arabia, Jordan, Lebanon, Syria, Egypt, Iraq, Bahrain, UAE and Kuwait.
MAPFRE ASSISTANCE is the trademark of MAPFRE ASISTENCIA, a leading company specializing in assistance, service provision and insurance for specialty risks. It offers comprehensive solutions to its clients in four main sectors: insurance, including specific solutions for brokers, finance, automobile and travel and tourism, as well as products for individuals.
MAPFRE ASISTENCIA is directly present in 44 countries and has more than 1,572 corporate clients. It operates around the world and 198 million people benefit from its services. MAPFRE is a global insurance company that operates in 47 countries across five continents. In addition to leading the Spanish market, it is one of the top 10 insurance groups in Europe in terms of premium volume and tops the ranking of multinational insurance companies that operate in Latin America. MAPFRE has more than 36,000 employees and over 23 million clients worldwide. In 2013 it reported a net profit of 790.5 million euros (up 18.7 percent) and revenues of more than 25.889 billion euros. MAPFRE is listed on the Madrid and Barcelona stock exchanges and on the IBEX 35 index.
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