Magazine date:
Mar 2021 DATE OF CREATION: 1980, Bahrain | |
CLASS OF BUSINESS: Life and non life | |
MAIN UNDERWRITING ZONES: Middle East, Asia and Africa | |
REGIONAL STRUCTURES: -Dubaï (United Arab Emirates) -London (United Kingdom) -Ebene (Mauritius) |
Arig: contact
CONTACT: Arig House, Building 131, Road 1702 Diplomatic Area 317, P.O. Box 26992, Manama, Bahrain |
Tel: (+973) 17 544 444 |
Fax: (+973) 17 531 155 |
Email: info [at] arig [dot] com [dot] bh |
Website: www.arig.net |
Arig: Rating
Agency | Rating | Outlook |
A.M Best | B++ | Stable |
Arig: main indicators
in thousands USD2017 | 2018 | 2019 | |
Turnover | 225 632 | 262 791 | 194 614 |
Shareholder’s equity | 256 934 | 196 400 | 228 400 |
Net result | 8 185 | -52 202 | 18 428 |
Arig : turnover 2019 by class of business
in thousands USD2018 Premiums | 2019 Premiums | En % | |
Property | 50 267 | 17 139 | 8.81% |
Engineering | 22 159 | 9 870 | 5.07% |
Marine | 12 562 | 6 129 | 3.15% |
Accident | 9 193 | 3 278 | 1.68% |
Whole account | 128 752 | 137 251 | 70.52% |
Others | 21 213 | 13 872 | 7.13% |
Total non-life | 244 146 | 187 539 | 96.36% |
Life | 18 645 | 7 075 | 3.64% |
Grand total | 262 791 | 194 614 | 100% |
Arig: Capital and shareholding
Shareholders | In % |
Government of the United Arab Emirates | 34.86% |
Government of Libya | 16.05% |
Government of Kuwait | 10.11% |
Emirati private investors | 19.5% |
Kuwaiti private investors | 8.01% |
Bahraini private investors | 6.45% |
Other investors | 5.02% |
Arig: technical ratios
2017 | 2018 | 2019 | |
Loss ratio | 69.25% | 81.90% | 59.50% |
Management expenses ratio | 34.85% | 33.30% | 36.90% |
Combined ratio | 104.1% | 115.2% | 96.40% |
Source: AM Best
Arig: management
Saeed Mohamed AlBahhar | Chairman of the board |
Samual Verghese | Acting chief executive officer |
Jeffrey Lawson | Directeur vie et maladie |
Rachid Mechouet | Assistant general manager - reinsurance |
* Arig announced in August 2020 the cessation of its activities
Exchange rate as at 31/12/2018: 1 BHD = 2.64362 USD ; as at 31/12/2019: 1 BHD = 2.63655 USD
Read also | Arig's cessation of activity [4]