Interview with Deputy General Manager Mr. Hussein Mallouk on the future prospects of Arab Re
Arab Re has recently introduced a range of internal promotions, a restructuring of the Technical Department and redistribution of responsibilities and authorities to be in line with the insurance and reinsurance industry requirements.
During the interview conducted by “Al Bayan” with Mr. Hussein Mallouk, the Deputy General Manager of Arab Re underlined that the development plan will focus on increasing the market share in Lebanon and Arab countries. This will be achieved by redirecting our underwriting strategy into new and profitable policies and increasing the efforts to improve the Company’s rating.
Mr. Mallouk mentioned that Arab insurance companies suffer from an excess underwriting capacity and competition from foreign companies, which dominate our markets. Mr. Mallouk stressed that the main concentration will be on the expansion into new markets and the diversification of insurance-based services, which should compensate all the negative results that affected the insurance industry and which impacted the company’s portfolio. He also emphasized on his low interest in nurturing the health insurance business.
“Al Bayan” magazine, July 2016, issue no. 536, page 210