20th April 2015, MANAMA: Trust Re has announced that its authorised, issued and paid-up capital now stands at US$ 200 million.
Its shareholders have released the final part, US$ 30 million, of a plan to double the authorised, issued and share capital within three years. This represents early completion of the commitment announced in the Company's Annual General Meeting in March 2013.
Mr. Fadi AbuNahl, CEO of Trust Re commented, "This latest development is in line with the Company's strategic direction and risk tolerance. It will reinforce Trust Re's future growth and allow the Company to continue expanding profitably". He added, "Moreover, Trust Re will now be even better placed to grow its market share across its lines of business, both in the region and internationally".
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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. With authorised, issued and paid up capital of US$ 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, the Former Soviet Union (FSU) countries and the Middle East and North Africa (MENA) Region.
© Press Release 2015
