Mr. Hussein Mallouk DGM of Arab Re: “We Expect to Maintain Historical Profitability”
The Deputy General Manager of Arab Re Mr. Mallouk revealed that Arab Re is being positively restructured, taking advantage of highly competent talent; he also expected to maintain historical profitability. Therefore, the company aims at entering new markets, underwriting good business and limiting unprofitable business.
Moreover, Mr. Mallouk tackled the economic and political situation as well as market competition and overcapacity, which constitute pressures on the sector. He explained that the increase in natural catasrophes this year did not help reinsurance prices recover while lower interest rates lead us to better focus on underwriting. He also revealed the some positive structural changes at Arab Re.
“Al Bayan” Magazine, December 2016, issue no. 541, page 102