STATISTICS:

TRUST Re announces increase in authorised, issued and paid-up capital

TRUST Re has announced an increase in its authorised capital from USD 200 million to USD 500 million and an increase in its issued and paid-up capital from USD 200 million to USD 250 million.

The increase was planned to support the Company's growth ambitions over the next business planning horizon.

Commenting on this latest development, Group CEO of TRUST Re, Mr. Fadi AbuNahl remarked: "Consistent with the Company's strategic planning and risk tolerance, the capital increase will sustain our ability to fulfil our future, competitive objectives and reach our vision of further expanding our operations by means of acquisition or establishing a physical presence in countries where we are already active".

He continued "It is always our aim to pursue diversified growth and expand our service offering to clients; ensuring their security is a mainstay of our strategy".

TRUST Re is a reinsurance company based in the Kingdom of Bahrain with branches in Malaysia and Cyprus, as well as a representative office in Morocco and a Liaison Office in India. With authorised, issued and paid up capital of USD 200 million, TRUST Re earned its recognition as a solid and reliable security through its long term professional commitment to the Insurance & Reinsurance Industry. It is classified as a highly reliable security (S&P: A- and A.M. Best: A-), and writes both life and non-life business on a Facultative & Treaty basis with a wide scope of geographical operation that includes: Africa, Asia, Russia, CIS countries and the Middle East and North Africa (MENA) Region. TRUST Re has a fully-owned subsidiary, Afro-Asian Assistance, which provides Travel Assistance and Personal Accident products.

Related articles

VIG to merge its Croatian Group companies

Croatian bancassurer ERSTE osiguranje is due to merge with WIENER osiguranje at the end of April 2018, subject to the approval by local authorities, as the Austrian VIENNA Insurance Group announced in a statement.

2017-12-14

ON THE MOVE

Swiss Re appoints new CFO and proposes new members to the BoD

Swiss Re announced that John DACEY, currently Group Chief Strategy Officer, is appointed Group Chief Financial Officer, effective 1 April 2018. He succeeds to David COLE, who will step down to pursue a non-executive career, while remaining a board member of several Swiss Re subsidiaries.

Piotr OZAREK is the PZU's first Ombudsman

Piotr OZAREK was appointed to perform the newly established function within PZU, as the first client's spokesperson of the insurer. His main task will be of helping in the most difficult and complicated cases in which PZU's clients are not satisfied with the solution.

Desmond BOHAN joins JLT Re as Senior Vice President

JLT Re, part of the global provider of reinsurance broking and consultancy, has appointed Desmond BOHAN as Senior Vice President in Stamford, Connecticut. He will focus on the continued expansion and development of JLT Re's Program practice in North America.

TOP EVENT

"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.

22.11.2017

photodune-3834701-laughing-girl-xs

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.

14.11.2017

photodune-3834701-laughing-girl-xs

Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.

09.11.2017

photodune-3834701-laughing-girl-xs

The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!

26.10.2017

Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".

25.10.2017

Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing

Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according  to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.

24.10.2017

See all