Arig gets Dubai approval for new reinsurance unit, appoints executive officer
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.
Arig also announced the appointment of Jehan Dias as senior executive officer to lead the business operation of the new subsidiary. Dias is a Swiss national with over 14 years in reinsurance. Prior to joining Arig, he served as head of facultative at Gulf Re.
Commenting on the establishment of AIM, Arig's CEO Yassir Albaharna, said: "The recent upgrade in our rating along with the physical presence in the DIFC (Dubai International Financial Centre) will reinforce Arig's position on the facultative side which is the main target for expansion."
Arig's subsidiaries include Takaful Re (Dubai) which is currently in run-off, Gulf Warranties (Bahrain), Arig Capital (UK) and Arig Insurance Management (DIFC) Limited (U.A.E.).
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