9 March 2015 Insurance

FAIR to write nuclear energy insurance

FAIR Oil & Energy Insurance Syndicate is set to write nuclear energy insurance as it seeks to cater for potential projects in the MENA region.

The facility will cover all risks of physical loss or damage and business interruption including nuclear perils, radioactive contamination and machinery breakdown.

The European Mutual Association for Nuclear Insurance (EMANI) helped with technical cooperation, while the Nuclear Industry Reinsurance Association (NIRA) supported the initiative.

Speaking at MultaQa 2015, Yassir Albaharna, chairman of the syndicate, said: “We definitely see opportunities for this class of business to grow and it’s time for the syndicate to take the initiative. It will be a learning experience but we are ready to commit and provide the market with a new product.”

Kamal Tabaja, the chief operating officer of Trust Re, added: “The MENA region will follow other regions and divert from oil and gas into renewable and sustainable energy. We realise there is a need for capacity going forward and it is the duty of this organisation to be the pioneers in this region.”


More on this story

Insurance
24 May 2021   He has more than 34 years’ experience in the reinsurance industry and was previously chief executive officer of Arab Insurance Group.
Insurance
7 December 2017   Renewable energy insurer GCube Underwriting has secured a new underwriting facility for the Middle Eastern clean energy markets led by Bahrain-based reinsurer Trust Re.
Insurance
2 March 2017   Bahrain regulated reinsurer Arab Insurance Group (Arig) has received a license from Dubai Financial Services Authority to operate its wholly owned new reinsurance subsidiary Arig Insurance Management (AIM) which will mainly focus on facultative specialty lines with underwriting authority from Arig.

More on this story

Insurance
24 May 2021   He has more than 34 years’ experience in the reinsurance industry and was previously chief executive officer of Arab Insurance Group.
Insurance
7 December 2017   Renewable energy insurer GCube Underwriting has secured a new underwriting facility for the Middle Eastern clean energy markets led by Bahrain-based reinsurer Trust Re.
Insurance
2 March 2017   Bahrain regulated reinsurer Arab Insurance Group (Arig) has received a license from Dubai Financial Services Authority to operate its wholly owned new reinsurance subsidiary Arig Insurance Management (AIM) which will mainly focus on facultative specialty lines with underwriting authority from Arig.

Intelligent Insurer
Newton Media Ltd
Kingfisher House
21-23 Elmfield Road
BR1 1LT
United Kingdom