Bahrain Kuwait Insurance Company B.S.C. (BKIC) was established in 1975 with Bahraini and Kuwaiti shareholders. By virtue of its shareholding structure, BKIC enjoys national status in Bahrain as well as Kuwait, the only company to enjoy such a privilege. The company’s shares are listed in the stock exchanges of both countries.
BKIC transacts all classes of general insurance, the major categories being Fire, General Accident, Engineering, Marine Cargo, Motor, Group Life and Health. Since its establishment, BKIC has enjoyed steady growth in various areas and built a solid relationship with its customers based on integrity, mutual trust and financial strength. BKIC was the first insurance company in Bahrain to have been interactively rated by an independent international rating agency and currently enjoys A- (Excellent) rating of A M Best. The company has grown to become the market leader in the Insurance Industry in Bahrain since the year 2008 in terms of gross premium and net profits, with a total gross premium income of BD 39.766 million in 2015.
Gulf Insurance Group (gig), which is owned by Kuwait Projects Company (KIPCO) and Fairfax Financial Holdings Limited, became the largest shareholder of the BKIC in 2008, with a share of 56.12% currently. In May 2013, BKIC launched the newly adopted identity by the Gulf Insurance Group (G.I.G.) companies so as to reflect a unified brand identity across the group companies.
The new logo selected, the redesigned sea shell, represents strength and stability, signifying the safety and security provided by group to the clientele all over the region. It also displays a unique blend of tradition and modernity and speaks for our ability to reinvent ourselves as per the demands of the time. The gig companies currently operate in Kuwait, Bahrain, Jordan, Lebanon, Syria, Algeria, Turkey and Egypt and this helps us to extend services to our valued clients in the Middle East.
BKIC is among the founders of the following companies which helped enrich insurance services in Bahrain:
United Insurance Company - Bahrain
Gulf Assist - Bahrain
In 2015, Bahrain Kuwait Insurance acquired 41% of Takaful International, and therefore became the largest shareholder for the company.
The company continues to play a leading role in planning more such ventures which are aimed at offering better services to the insuring public.
BKIC prides itself on being in the forefront of training and development of its employees. The company believes that the employees are its best assets and hence places great emphasis on their welfare. The staff of BKIC enjoy enviable reputation for their subject knowledge and professionalism in all aspects of customer care.
Having gained rich experience in working under varying market conditions, BKIC is well positioned to face the competitive pressures with confidence and courage.