MANAMA: Arab War Risk Insurance Syndicate (AWRIS) headquartered in the Kingdom of Bahrain, has held its Annual General Assembly and was attended by more than 100 members representing member insurance companies from across the Arab world. During the assembly AWRIS announced an increase in its total profits to $20 million in 2015 compared to $19 million in 2014.
“During 2015, AWRIS’s funds have increased to USD173 Million compared to USD166 Million in the previous year,” Mr. Ashraf Bseisu, Chairman of the Technical Committee, said.
“We are pleased that AWRIS has shown improved profits despite the challenges we face in the Arab & International insurance markets” He added. Mr. Bseisu has also commended the members confidence in AWRIS’s performance reflected in the increase of its members. The members of the syndicate reached 178 companies from across the Arab world.
“The economic environment and the constant support from the Kingdom of Bahrain’s government and leadership has led to the growth of the syndicate and its underwriting capacity to accommodate the increasingly growing number of members of AWRIS. Further, the increase in profits of the syndicate has also led to the diversity of its investments in the Arab world in general and the Kingdom in particular,” Mr. Nabil Kotran, Chief Executive Officer said.
