ID :
75898
Tue, 08/18/2009 - 15:37
Auther :
Shortlink :
https://www.oananews.org//node/75898
The shortlink copeid
Adnic seeks to further tap Mideast, north African markets
Abu Dhabi National Insurance Co (Adnic) aims to expand its reach in the Middle East and North Africa region and increase the efficiency of its reinsurance business through its partnership with London-based Talbot Underwriting, Adnic Deputy CEO Samir Abdul Ahad said Monday.
Last Wednesday both companies confirmed their establishment of a reinsurance joint-venture licensed and regulated by the Dubai Financial Centre. The new company, Underwriting Risk Services Middle East (Ursme), will offer reinsurance to insurance companies throughout the region.
"[Talbot] is a world-class company that specialises in reinsurance," Abdul Ahad, appointed last week as Ursme CEO, told Gulf News in a phone interview. "They operate at a very high level of professionalism and can definitely help us manage our risks better."
Reinsurance allows insurance companies to alleviate their own risks and increase coverage limits to their clients, thereby increasing their underwriting revenues. "Reinsurance is something that all insurance companies need," Abdul Ahad said. "As long as insurance companies exist, there will be a need for our services.
Talbot is one of two subsidiaries of the Bermuda-based Validus Holdings, which holds about US$5 billion (Dh18.4 billion) in assets, according to a financial statement.
Last Wednesday both companies confirmed their establishment of a reinsurance joint-venture licensed and regulated by the Dubai Financial Centre. The new company, Underwriting Risk Services Middle East (Ursme), will offer reinsurance to insurance companies throughout the region.
"[Talbot] is a world-class company that specialises in reinsurance," Abdul Ahad, appointed last week as Ursme CEO, told Gulf News in a phone interview. "They operate at a very high level of professionalism and can definitely help us manage our risks better."
Reinsurance allows insurance companies to alleviate their own risks and increase coverage limits to their clients, thereby increasing their underwriting revenues. "Reinsurance is something that all insurance companies need," Abdul Ahad said. "As long as insurance companies exist, there will be a need for our services.
Talbot is one of two subsidiaries of the Bermuda-based Validus Holdings, which holds about US$5 billion (Dh18.4 billion) in assets, according to a financial statement.
