Gulf Insurance K S C P : تقرير الاستدامة عن عام 2022
October 16, 2023 at 01:07 am EDT
Share
Empowering Sustainability to Embrace the Future
Sustainability Report 2022
H.H. Sheikh
Nawaf Al-AhmadAl-JaberAl-Sabah
Amir of the State of Kuwait
H.H. Sheikh
Mishal Al-AhmadAl-JaberAl-Sabah
Crown Prince of the State of Kuwait
2 | Sustainability Report 2022
Sustainability Report 2022 | 3
Table of
Contents
Message from Chairman
6
Key Highlights in 2022
8
Message from Group CEO
10
1.
Overview
12
About this Report
13
Our Direct Presence
14
Business Profile
15
Vision, Mission and Values
16
Economic Performance
17
2.
Approach and Strategy Towards Sustainability
19
Message from Chairperson of the Sustainability Steering Committee
20
Our Sustainability Approach
21
Sustainability Ambition
22
Sustainability Journey
23
Collaborating to Create Sustainability Awareness
24
3.
Stakeholder Engagement and Materiality
25
Stakeholder Engagement
26
Materiality Matrix
29
Our Journey in the UN
31
Description and Mapping of Material Topics
32
ESG Risk Management
34
4.
Governance
36
Governance Structure
37
Business Ethics and Policies
40
Data Privacy and Cyber Security
44
5.
Social
46
Human Capital
47
Connecting with Community
49
Connection with Customers
52
6.
Environment
58
Environmental Program
59
Working Towards Circularity
60
Environmental Awareness
61
7.
Awards
62
8.
Opinion Statement
64
9.
Appendix
67
GRI Content Index
68
Sustainability Report 2022 | 5
Message from Chairman
We want to enhance the insurance sector's contribution to sustainable development, creating value in economic, environmental and social aspects thus benefiting the society at large
Dear Stakeholders,
I am proud to share with you our first Sustainability Report, titled "Empowering Sustainability to Embrace the Future" Thisyear,wehaveorganizedoursustainabilityreporttobefocusedonEnvironmental,Social,andGovernance(ESG)factors,whichcovers allGIG'smainactivities.Atthesametime,wealsocontinueourESGfocustowardsourstakeholders,UNSustainableDevelopmentGoals (UN SDGs), and the Global Reporting Initiative (GRI) standards.
Over the years, Gulf Insurance Group (GIG) has positioned itself as a leader in the insurance industry, offering innovative, and sustainable insurance solutions with world class services to individuals and companies, keeping in mind the best interest of our clients. Our financial success is accompanied by a deliberate approach towards sustainability and sustainable operations.
We recognize the importance of affordability and accessibility of insurance for all.To achieve this,we have designed flexible products that provide customized coverage options and premiums, thus contributing towards increasing insurance penetration in the region. We take pride in the progress we have achieved in implementing the highest standards of corporate governance whilst embedding sustainability as an integral part of our corporate culture and operations. We will continue meeting our promises to achieve responsible and sustainable growth and to share our successes with the communities in which we operate. On behalf of the Board of Directors, I extend my gratitude to all GIG stakeholders who were involved in continuously supporting and enabling our sustainability practices. We hope that this Sustainability Report proves to be a valuable tool for you, our cherished stakeholders, in understanding our ESG efforts and we look forward to receiving your feedback.
Sincerely,
Farqad Abdullah Al-Sane
Chairman of the Board of Directors
6 | Sustainability Report 2022
Sustainability Report 2022 | 7
Attention: This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Gulf Insurance Group KSCP published this content on 16 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 October 2023 05:06:26 UTC.
Gulf Insurance Group KSCP, a subsidiary of Kuwait Projects Company Holding KSC, is a Kuwait-based company engaged in the provision of life and non-life insurance products and services. The Company operates, along with its subsidiaries, in the following segments: General Risk Insurance segment, which offers general insurance products such as marine and aviation, motor vehicles, property, engineering and general accidents to individuals and businesses, and Life and Medical Insurance segment, which offers savings, protection products and other long-term contracts, including a range of whole life insurance, term insurance, unitized pensions, pure endowment pensions, group life and disability, credit life (banks) and group medical, such as third party administration (TPA), preferred global health and balsam products. The Companyâs subsidiaries include: AIG Sigorta AS, Turins Sigorta AS, Egypt Life Takaful Insurance Co SAE and Bahrain Kuwait Insurance Co BSC, among others.
GULF INSURANCE GROUP K.S.C.P. 
