Arab Reinsurance Company (Arab Re)

In 1969, during the holding of the fifth general assembly of the General Arab Insurance Federation (GAIF) the idea of establishing a pan Arab reinsurance started to sprout. On March 11, 1972, Arab Re saw the light of day choosing Beirut to be its headquarters.

Lebanon, the economic center of the Middle East, was back then designed to serve as a base for the new entity expected to shine over the entire region. Project developers were then happy to have a joint reinsurance structure in order to coach insurance start-ups in a geographic area stretching out from the Atlantic to the Persian Gulf.

Three years following the start of operations, Arab Re had had to face the civil war that broke out in Lebanon in 1975. Despite the trail of destruction and devastation left behind by the hostilities, the company never moved from Beirut where thanks to the selflessness and courage of its staff members, the company managed to continue working and especially honoring its commitments towards its ceding companies.

Today, Arab Re is pursuing the objectives entrusted to it by their founding fathers while expanding the sphere of activities to other areas such as Africa and Asia. The hiring of highly qualified staff has enabled the company to develop new niches such as life and health classes of business. New horizons have been explored thanks to the buoyancy of the company’s customized services.

Sheikh Khaldoun Barakat	Ronald Chidiac
Chairman	General manager

Arab Re: main technical highlights: 2010-2014

in USD

	2010	2011	2012	2013	2014
Gross written premiums	53 672 396	57 549 071	72 551 380	86 020 970	81 647 636
Gross earned premiums	56 958 055	56 176 653	66 602 653	84 572 343	82 234 601
Net earned premiums	44 821 164	45 627 052	53 465 883	66 854 887	61 637 700
Gross incurred losses	43 056 125	38 391 603	40 741 247	56 846 973	59 837 580
Net incurred losses	30 372 912	30 898 699	34 821 529	48 146 857	48 063 792
Management expenses (1)	18 567 683	18 606 499	22 930 366	27 809 520	27 417 869
Gross loss ratio	75.6%	68.3%	61.2%	67.2%	72.7%
Management expenses ratio (2)	34.6%	32.3%	31.6%	32.3%	33.6%
Gross combined ratio	110.2%	100.6%	92.8%	99.5%	106.3%
Pre-tax result	6 889 077	5 587 506	7 973 641	5 158 793	856 251
Net result	6 766 207	5 496 821	7 762 651	4 920 214	564 879

⁽¹⁾ including acquisition costs
⁽²⁾ management expenses ratio = management expenses / gross written premiums

Arab Re: evolution of premiums, management expenses and results: 2010-2014

in thousands USD

Arab Re: evolution of loss, expenses and combined ratios: 2010-2014

Arab Re: breakdown of turnover per class of business: 2010-2014

in USD

	2010	2011	2012	2013	2014	2014 shares
Fire	22 848 435	21 665 881	27 462 831	34 751 429	34 176 297	41.9%
Accident	12 422 229	17 163 463	22 696 572	27 662 086	23 843 053	29.2%
Engineering	9 078 965	9 905 192	11 489 794	12 592 787	11 050 334	13.5%
Marine	9 271 419	8 436 672	10 015 032	9 142 088	9 121 941	11.2%
Total non life	53 621 048	57 171 208	71 664 229	84 148 390	78 191 625	95.8%
Life	51 348	377 863	887 151	1 872 580	3 456 011	4.2%
Grand total	53 672 396	57 549 071	72 551 380	86 020 970	81 647 636	100%

Arab Reinsurance Company: breakdown of 2014 turnover per class of business

Arab Re: gross incurred losses 2013-2014

in USD

	2013	2014	2014 shares
Fire	21 790 792	26 596 865	44.4%
Accident	21 344 521	19 930 523	33.3%
Engineering	8 194 222	5 801 059	9.7%
Marine	3 898 797	5 713 909	9.6%
Total non life	55 228 332	58 042 356	97%
Life	1 618 641	1 795 224	3%
Grand total	56 846 973	59 837 580	100%

Arabe Re: breakdown of 2014 gross incurred losses per class of business

Source: Figures extracted from different balance sheets of Arab Re company