Kuwait " 14 March 2010: Gulf Bank signed a distribution agreement with American Life Insurance Company (Alico), one of the region's leading insurance companies.

The distribution agreement will allow Gulf Bank to offer its customers the most innovative insurance plans currently available in Kuwait.  Gulf Bank will be offering three types of insurance plans namely: Income Builder Plan, Super Life and Super Saver.

The Income Builder Plan (IBP) provides regular income starting from end of payment period.  This plan provides a great education for your children, a pension until the age of 99 years; eliminates uncertain returns and covers unfortunate events. IBP allows you to plan your own package, target savings, income, cash value, an excess return bonus, and death benefits.

The second insurance plan is Super Life, which is designed on a win-win basis, protecting your family in times of need, complementing your investment objectives, while having a segment for financial based solution needs. Payment modes are on a monthly, quarterly, semi-annual and annual basis with a flexible premium up to age 95 for 10 years and above.

The third insurance plan is Super Saver.  This is a unit linked investment savings plan allowing you to build for the future and to create, accumulate and protect your wealth.  The Super Saver plan is the ideal solution if you are considering starting to plan for your children's education, have mortgage down payments, wedding or retirement plans, or just wish to have a general savings plan to help you achieve your future goals.

All the   plans are divided into two segments: One Stop Shop Concept which is a balanced and conservative strategy plan dealing with investing simultaneously in 12 different funds at the same time with a multiple of 10% allocation in each fund.   Consolidated valuation statements are provided with a separate contact for different fund management groups and transactions. The second segment is the Fund Switching facility that allows you to maximize and capture any gains arising out of market fluctuations by transferring funds. Risk profiles can be changed according to your life stages and needs with no charges for the first four switches.

Gulf Bank partnered with Alico because of Alico's Global Policy standards, its   highest possible degree of financial stability and claims payment ability, and an exceptional regional office network throughout the region.  Alico is one of the providers with region-wide managed care capabilities, with multinational pooling, providing global financial advantages to multinational companies, while having a wide variety of tailor-made plans.

For further information regarding Alico 's plans offered to Gulf Bank, customers can visit one of Gulf Bank's 50 branches or call the Tele-banking service 1805805 for assistance and guidance.  Customers can also log on to www.e-gulfbank.com, Gulf Bank's bilingual website, to find all the information regarding the 3 new plans with Alico or any of the Bank's products and services.

Michel Accad CEO and CGM of Gulf Bank signing the contract with

Axel Bromley, Country Manager of Kuwait, Qatar, Bahrain and Oman