Bahrain: Trust Re introduces affinity reinsurance
Source: Middle East Insurance Review | May 2018
Trust Re has expanded its service offering to include affinity reinsurance, focusing on geographical areas where the company already operates, with particular concentration in MENA.
Leading the affinity division is Mr Ali Mohsen, senior underwriter, who has 20 years of multi-faceted experience, almost half of which was spent as country manager for a GCC-based extended warranty services firm.
The company’s affinity division provides underwriting services and capacity (up to 100% facultative basis) for certain insurance products, particularly those which are large in volume but command a small premium. Within this line of business, the main offerings namely auto warranty, guaranteed asset protection, brown & white goods and affinity packages, operate as insurance coverage offering protection beyond the retailer’s guarantee. Furthermore, Trust Re supports cedants in granting affinity covers and guarantees to manufacturers and retailers.
Mr Kamal Tabaja, COO, Trust Re said, “Further diversifying our line of products is part of our vision to be the reinsurer of choice. By developing a complete line of affinity risk solutions, we are offering our partners further value-added services and providing them with risk protection of choice.” M