Gulf Insurance Group – Jordan (GIG Jordan) has received an upgrade in its credit ratings from AM Best, reflecting improvements in its financial strength and operating performance. The Financial Strength Rating was raised to ‘A-‘ from ‘B++’, and the Long-Term Issuer Credit Rating increased to ‘a-‘ from ‘bbb+’. This positive shift is attributed to the company’s strong underwriting performance, demonstrated by a combined ratio of 92% in 2023, and its robust balance sheet strength. GIG Jordan maintains a leading market position in Jordan with approximately 15% market share, though it primarily focuses on medical and motor risk underwriting.