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Under the patronage of His Excellency Dr. Mohammad Alhusein the Minister of Finance, Chairman of the Syrian Insurance Supervisory Commission, GlobeMed Syria has held a dinner ceremony at Sheraton Damascus – on Thursday, March 10th 2011, during which it launched the First Medical Statistics Bulletin of its insurance portfolio and awarded some of its healthcare providers the prize of “Colleague of the year 2010”.

In times of recession and global economic collapse, Syria undoubtedly looks inviting to most insurers and reinsurers. It is still a new market with big potential and a population of 20 million; such markets help stabilize our economy and build a better tomorrow. Success is all about making the right move. "Ultimately, Syria has a lot of growth ahead of it," emphasized Samir S. Nahas, Managing Director of GlobeMed Syria. GlobeMed Syria started its operations two years ago, and the company controls more than 50% of the Syrian insurance market. However, GlobeMed Syria has five other competitors.

Doha Insurance announced the names of the Board of Directors (BOD) for the next three years as follows: 1- Sheikh Nawaf Bin Nasser Bin Khaled Al-Thani.

Standard & Poor’s Ratings Services has assigned initial insurer financial strength and counterparty credit ratings of ‘BBB+’ to Saudi Re for Cooperative Reinsurance Co. (Saudi Re), which is based in the Kingdom of Saudi Arabia (KSA). The outlook on the ratings is stable.

Arab Insurance Group (Arig) is opening an office in Mauritius after receiving the go ahead from local authorities. The island was chosen as a suitable springboard into the East and West African markets in view of its favorable business environment, infrastructure and political stability.

Doha Insurance disclosed its 3rd quarter financial statement results for the period ending September 30, 2008 with a reported net profit of QR 47.1 million versus QR 34.1 million for the same period in 2007.The reported Earnings per Share (EPS) as of September 30, 2008 were QR 2.62 compared to QR 2.68 of the same period in 2007.

The United Insurance won the title of “best insurance company in Yemen” for the second consecutive year through a referendum by a magazine.

Yassir Albaharna, CEO of Arab Insurance Group (Arig), was recently named among the “Top 40 Most Influential” reinsurance leaders by a prominent British industry magazine.

AXA Insurance Gulf has signed an agreement with AXA Corporate Solutions to further its strategic ambition to grow significantly in the Marine & Large Risks insurance and risk management sectors.

Ebrahim Al Rayes – Chief Executive Officer of Bahrain Kuwait Insurance Co. announced that the Company achieved 5.46% increase in net profit - from BD. 2,704,464 in Q2 of this year against BD. 2,564,364 for the same period last year. Underwriting profit increased by 76% from BD. 878,400 in Q2 2007 to BD. 1,547,163 for the same period this year.