Leadership Reorganisation in Arig
Bahrain: Arab Insurance Group (Arig) announced the end of services of CEO, Mr. Yassir Albaharna effective 5 June 2018.
Mr. Samuel Verghese has been appointed as acting CEO until further notice. Mr. Firas El Azem continues to lead the Reinsurance Operations.
Mr. Verghese joined Arig in March 1997 in the Finance department and assumed the role of Director, Finance in January 2008. He was appointed as Deputy General Manager – Finance & Administration in January 2017 – in which capacity he has been closely involved in the formulation and implementation of Company’s strategies. Additionally, he represents Arig in a number of Boards. He currently holds Board memberships at Arima Insurance Software (Bahrain), Gulf Warranties (Bahrain) and GlobeMed (Bahrain), Arig Capital Limited (London) and Arig Insurance Management DIFC (Dubai). Prior to joining the Company, he held various managerial positions in companies within India.
Mr. Firas El Azem joined Arig in January 2017 as General Manager – Reinsurance and brings with him over 25 years of experience in insurance and reinsurance. He started his professional career with Munich Re, Munich in 1991 and later became the CEO of its Kuala Lumpur Branch before moving to the Middle East in 2006 as General Manager of a number of Insurance/Takaful companies, and Arig’s subsidiary, Takaful Re in U.A.E. He is currently a Board member of Arig Insurance Management DIFC (Dubai).
Commenting on the leadership reorganisation, Mr. Samuel Verghese said: “Based on Arig’s stable ownership, strong financial position, market knowledge, expertise and long-term vision, we remain committed to support our clients as well as the whole industry. We are thankful to Mr. Yassir Albaharna for his dedication to the Company over the length of more than thirty years of his tenure and his immense contribution to the Insurance and Reinsurance Industry.”
Arig is one of the largest Arab-owned, professional reinsurance providers in the Middle East and Africa. The Group is listed on the stock exchanges in Bahrain and Dubai and offers a wide range of reinsurance products and services. Arig’s subsidiaries include Takaful Re (Dubai) – currently in run-off, Gulf Warranties (Bahrain), Arig Capital Ltd. (UK) and Arig Insurance Management (DIFC) Limited. Additional information about Arig can be obtained at www.arig.net
Arab Insurance Group (B.S.C.) is a reinsurance firm regulated by the Central Bank of Bahrain.