ARIG, excellent performance

Arab Insurance Group (ARIG) has reported 48.2 million USD record net profit for 2005 against 26.5 million USD in 2004, that is, an increase of 82%. The overall premium volume is 32% higher. As far as reinsurance is concerned, the gross premium has peaked from 131.3 million USD to 173.7 million USD.

ARIG, which has already proceeded with a first increase of its capital to 200 million USD, is planning to boost it to 220 million USD.

This excellent performance only confirms the merits of the group's strategic redeployment plan which materialized in 2005 through:

• The disengagement of CNIA Assurance in Morocco.
• The reorientation of activities towards reinsurance.
• The opening of a branch in Singapore.
• The creation of a subsidiary company – Takaful Re – in Dubai.