Business insurance · Kuwait · Head-to-head
First Takaful Insurance Company vs Gulf Insurance Group (GIG Kuwait)
Two Kuwait business insurance options, compared side by side for Kuwait trades.
Which should you choose?
Gulf Insurance Group (GIG Kuwait) edges ahead on our Kuwait tiering (Tier S vs A), but both are workable — the right pick depends on your trade, region, and the Kuwait-specific notes below.
First Takaful Insurance Company
Tier A · WorkableKuwait-domiciled takaful insurer with the most explicitly itemised construction line
Incorporated in 2000 and credited with introducing takaful to the Kuwaiti market. Its live corporate page itemises the fullest construction line of any Kuwaiti insurer — CAR, EAR, contractors’ plant & equipment, electronic equipment, machinery breakdown, boiler & pressure vessel, public liability, workmen’s compensation, loss of profit and decennial liability.
Pros
- + The only Kuwaiti insurer publishing the full construction line by name (incl. workmen’s comp, decennial)
- + Sharia-compliant (takaful); Kuwait-domiciled
- + Product page directly verified
Cons
- − Quote-only pricing
- − No public credit rating found; smaller balance sheet than GIG/Al Ahleia
- − Weaker counterparty for very large/financed projects
Kuwait note
Best Sharia-compliant pick and the clearest published construction line in Kuwait; for very large/financed projects an unrated balance sheet may not satisfy lender clauses — pair with a rated lead insurer if needed.
Gulf Insurance Group (GIG Kuwait)
Tier S · RecommendedKuwait’s market leader (Fairfax-owned) with the strongest ratings and a full engineering suite
Founded 1962 and a consistent market leader in Kuwait by premiums, ~97% owned by Fairfax Financial. It writes the full engineering suite — CAR, EAR, electronic equipment, machinery breakdown and contractor’s plant & machinery — and carries the strongest credit profile in the market (S&P A+, AM Best A, Moody’s A2).
Pros
- + Market leader with the strongest ratings in Kuwait (S&P A+ / AM Best A)
- + Full verified engineering line (CAR, EAR, CPM, machinery, EE)
- + Fairfax ownership = exceptional counterparty strength for large projects
Cons
- − Quote-only pricing
- − Enterprise-oriented
- − Conventional entity (use GIG Takaful for Islamic cover)
Kuwait note
The default for Kuwaiti contractors needing CAR/EAR on serious work — its S&P A+ is the strongest insurer rating in the market and comfortably satisfies employer/lender insurance clauses.
More Kuwait options
See all Kuwait business insurance vendors and the rest of the Kuwait directory.