Arab Insurance Group

Life reinsurance accounted for $5.6mn of the group’s gross premiums in 2005 but it is seen as a key growth area for the future

Although the Bahrain based Arab Insurance Group ( Arig) increased its non-life reinsurance net income from a profit of US$26.5mn in 2004 to a profit of $48.2mn in 2005, the latter proved to be a frustrating year for the Middle East’s biggest and most respected reinsurer. To begin with, the impressive increase in the net income result masked a significant deterioration in performance compared with 2004, the most successful year in the group’s recent history and the clearest indication that Arig had emerged intact after five or six very tough years.