Bahrain: Insurance advisory firm ties up with broker for GCC mart
Source: Middle East Insurance Review | Jan 2017
Protection Insurance Services (PIS) has formed a strategic partnership with Hong Kong-based insurance advisory company, Pacific Prime, to extend its operations within the GCC countries and in other regions across the globe.
Providing mutual benefits to both parties, the exclusive partnership, enables Pacific Prime to provide services in the territories covered by PIS’ licence, and vice versa. For Pacific Prime, this means that it can now write business in Saudi Arabia, Bahrain, Qatar and Kuwait – markets in which it was previously not licensed to quote for business.
PIS has over 20 years of expertise in a comprehensive range of marine and non-marine insurance broking, consulting and claims-handling services, and as such, Pacific Prime sees this partnership as a unique opportunity to acquire deep insights into the industries that the former operates in, the company said in a statement.
Founded in 1996, PIS provides specialised insurance, reinsurance services (including takaful and retakaful), and advisory services across the MENA, other parts of Africa, the Indian subcontinent and Asia.
Pacific Prime International principally offers advice on international health insurance, business insurance and life insurance. It also has offices in mainland China, Singapore and the UAE.