Kuwait - Gulf Ins. Group acquires stake in yallacompare
Monday, 05 04 2020, Category: Insurance and Reinsurance, Country: Kuwait
Yallacompare.com, the Middle East’s leading finance comparison site, has raised $4.25 million of fresh capital from Kuwaiti stock exchange listed Gulf Insurance Group (gig).
GIG is amongst the largest and most diversified insurance groups in the Middle East and North Africa region. It is one of the leading private insurers (by gross premiums written) with a strong competitive market position in Kuwait, Jordan, Bahrain and Egypt.
Since its launch in 2011, yallacompare has built a dominant position in digital insurance sales in the UAE, accounting for more than 75% of online insurance transactions. Having recently announced partnerships with Smart Dubai, Etisalat, National Bonds and many others, the company says it expects to double its market share by the end of 2020.
yallacompare operates insurance aggregators in the UAE, Kuwait and Egypt and currently employs over 120 people between their Dubai and Egypt offices.