Bahrain: Trust Re partners FinTech Bay
Source: Middle East Insurance Review | Mar 2020
Trust International Insurance and Reinsurance Company (Trust Re) has become an international partner of Bahrain FinTech Bay, a FinTech hub in the Middle East region.
The partnership represents a collaborative commitment to further develop the insurance and reinsurance industry across Bahrain and the Middle East.
Bahrain FinTech Bay and Trust Re aim to promote InsurTech and emerging technologies through joint events, hackathons, thought leadership and research, as well as supporting startups and existing solution providers, the two parties said in a joint statement.
The international partnership also extends to Bahrain FinTech Bay’s sister hub in Silicon Valley, Silicon FinTech Bay, which will provide Trust Re with exposure to cutting-edge solutions from the world’s leading technological hub.
“Our partnership with the region’s largest reinsurer represents a commitment to drive InsurTech innovation and further develop the insurance and broader financial services sectors, positioning Bahrain not only as a leader in innovation, but also in FinTech,” said Mr Khalid Dannish, CEO of Bahrain FinTech Bay.
“As a reinsurer operating internationally, Trust Re is always committed to supporting the insurance industry through providing clients and partners with optimal reinsurance solutions. By promoting digitisation and digitalisation initiatives in the (re)insurance domain, we are supporting our partners to realise the benefits of technology to enable growth and to increase economic and societal resilience. Our international partnership with Bahrain FinTech Bay is a keystone in our journey towards that imperative, strategic goal,” said Mr Talal Al Zain, Group CEO of Trust Re. M