Hussein Mallouk: “Strong positions and successful partnerships”
Mr. Hussein Mallouk, Deputy General Manager of the Arab Reinsurance Company, explained the most important developments of the international insurance sector before tackling the Arab and local market situations. He confirmed the positive trajectory of the company despite the difficult economic situation of the region.
Moreover, he detailed international, regional and local trends. He praised the role of insurance supervisory authorities in improving and developing the Lebanese insurance sector. Additionally, he anticipated the future implication of technology on the global insurance sector. He also estimated the effects of catastrophes and climate change on the international insurance sector. Finally, he assessed the impact of oil prices on the Gulf Cooperation Countries.
Furthermore, he emphasized the achievements of the Arab Reinsurance Company such as the continuous B+ rating obtained from A. M. Best given its strong balance sheet and competent team leading the company. The company almost wrote USD 70 million of premiums last year within a controlled underwriting policy as the company strengthened historical relations with Arab markets and expanded into new markets. The company also successfully updated its software to cope with the needs of business. Finally, it has a strong investment, risk management and solvency position, all of which have been strengthened and make the management proud and confident.