Best Re, change of domicile

The Reinsurer Best Re, domiciled in Tunisia for 25 years, transferred its portfolio to the new entity, established in Malaysia. Best Re, which has been present in Kuala Lumpur since 1999, has recently injected 140 million USD for the establishment of a non-life reinsurance company in Labuan and another 20 million USD for a life company.
The choice of the new headquarters had much to do with the weight of the Asian branch which accounts for 70% of its turnover. The company, whose A- rating with stable outlook was recently confirmed by AM Best, is expecting in 2010 a 15% growth of its gross premiums at 350 million USD.