Bahrain: Trust Re increases issued capital by 25% to $250 mln
Source: Middle East Insurance Review | Feb 2017
Bahrain-headquartered Trust Re has announced an increase in its authorised capital from US$200 million to $500 million and an increase in its issued and paid-up capital from $200 million to $250 million.
The increase was planned to support the company’s growth ambitions, said Trust Re in a statement.
Commenting on this latest development, Group CEO of Trust Re, Mr Fadi AbuNahl, said: “Consistent with the company’s strategic planning and risk tolerance, the capital increase will sustain our ability to fulfil our future competitive objectives and reach our vision of further expanding our operations by means of acquisition or establishing a physical presence in countries where we are already active.”
He added: “It is always our aim to pursue diversified growth and expand our service offering to clients. Ensuring their security is a mainstay of our strategy.”
Trust Re is a reinsurance company based in Bahrain with branches in Malaysia and Cyprus, as well as a representative office in Morocco and a liaison office in India. It writes both life and non-life business on a facultative and treaty basis over a wide geographical scope that includes: Africa, Asia, Russia, CIS countries and the MENA region.