15 November 2006
The ACE Group of Insurance and Reinsurance Companies has announced the formation of a new Middle East & North Africa (MENA) Regional Office, based in Bahrain. The new office, which recently received approval from the Central Bank of Bahrain, will be responsible for the management of ACE's existing businesses in Saudi Arabia, Egypt and Pakistan, as well as the development of representation in new markets in the region.
The Regional Office is headed up by Giles R. Ward, the newly appointed Regional Director, MENA. Meanwhile, Hanover Re, the world's third-largest re-insurer, is to enter the Islamic re-insurance market by proposing products that conform to Shariah, the company said yesterday. Hanover Re said it would this month open a branch in Bahrain.
The ACE Group of Insurance and Reinsurance Companies has announced the formation of a new Middle East & North Africa (MENA) Regional Office, based in Bahrain. The new office, which recently received approval from the Central Bank of Bahrain, will be responsible for the management of ACE's existing businesses in Saudi Arabia, Egypt and Pakistan, as well as the development of representation in new markets in the region.
The Regional Office is headed up by Giles R. Ward, the newly appointed Regional Director, MENA. Meanwhile, Hanover Re, the world's third-largest re-insurer, is to enter the Islamic re-insurance market by proposing products that conform to Shariah, the company said yesterday. Hanover Re said it would this month open a branch in Bahrain.
© Bahrain Tribune 2006
