The partition of the country compelled Arabia Insurance Company to transfer its offices to Beirut where it launched its life department in 1955. It inaugurated its head office premises at Ain El Mreisseh in 1959.
Fady Chammas |
General Manager |
From the outset, Arabia opted for a policy of expansion throughout the Arab countries. But later, it suffered a serious setback from the series of nationalizations of the insurance sector in Syria (1961), Iraq (1964), Yemen (1969) and Sudan (1970), the slowing down of its activities in Libya (1970), the Israeli-Arab conflicts (1967, 1973) and the Lebanese civil war (1975-1989).
But despite these multiple crises that have shaken the region, Arabia has proved to be resilient and capable of coping with the events, and it now continues to assume its task as a key actor in the insurance sector at the level of the Arab world.
Key dates
- 2004:Creation of two new agencies in Lebanon, one in Saida and the other in Chtaura, thus consolidating its presence with 30 agencies and subsidiaries in Lebanon, Saudi Arabia, United Arab Emirates, Oman, Bahrain, Kuwait and Qatar
- 2003:The Digest Arab Insurance Rating agency grants the “A” rating to Arabia
- 1959:Inauguration of the company's current head office premises in Ain El Mreisseh
- 1957:Creation of « Arabia's training Institute » for the staff's training
- January 1955:Creation of the life department
- 1948:The head office was removed to Beirut following the partition of Palestine
- 1944:Creation of the company in Jerusalem
Arabia in 2004
Totally paid up capital | 34 million USD |
Gross premiums | 62.3 million USD |
Benefits | 12 million USD |
Number of agencies and subsidiaries | 30 |
Presence | 7 countries |
Number of employees | 400 throughout 7 countries |
Number of shareholders | 419 among whom 80 employees of Arabia |
Management
Chairman of the board of directors | Hisham Bsat |
Vice-chairman of the board of directors | Hani Atallah Freij |
General Manager | Fady Chammas |
DGM Reinsurance | Hicham Barraj |
DGM Operations | Nabih Baaklini |
DGM Human Resources & Administration | Carlos Saba |
They have worked in Arabia, ...
| ||||
Francis Alonzo | Beshara Debbas | Badr El Fahoum | ||
Alain Debbas | Namek Idrissi | George Nasr | ||
Bassim Re’fat Faris | Beshara Haddad | Ghassan Ridha |
Main technical highlights: 2000-2004
in thousands USD2000 | 2001 | 2002 | 2003 | 2004 | ||
---|---|---|---|---|---|---|
Non life | ||||||
Gross premiums | 41 235 | 46 146 | 46 994 | 47 612 | 57 959 | |
Incurred claims | 31 818 | 29 234 | 30 847 | 30 732 | 29 371 | |
Loss ratio 1 | 77% | 63% | 66% | 65% | 51% | |
Technical results (net of reinsurance) | -2 462 | -3 280 | -676 | 1 633 | 5 119 | |
Financial income | 7 361 | 6 864 | 9 832 | 9 600 | 8 119 | |
Net result (after taxes) | 1 911 | 1 550 | 5 515 | 7 305 | 10 997 | |
Life | ||||||
Gross premiums | 2 282 | 2 564 | 2 780 | 3 378 | 4 085 | |
Incurred claims | 171 | 68 | 392 | 188 | 323 | |
Loss ratio 1 | 7% | 3% | 14% | 6% | 8% | |
Technical results (net of reinsurance) | 819 | 911 | 803 | 1 394 | 1 928 | |
Financial income | 1 708 | 1 611 | 1 310 | 2 336 | 1 875 | |
Net result (after taxes) | 1 153 | 224 | 500 | 887 | 865 |
of outstanding losses
Contact
Head office | Arabia House - Phoenicia Street - P.O. Box 11 - 2172 - Beirut - Lebanon |
Phone | (+961) 1 36 36 10/11 |
Fax | (+961) 1 36 36 59 |
arabia [at] arabia-ins [dot] com [dot] lb | |
Website |
Arabia's network
Lebanon | Beirut , Tripoli, Zalka, Saida, Chtaura |
Bahrain | Manama |
Kuwait | Kuwait |
Qatar | Doha |
Oman | Mascate, Salalah |
United Arab Emirates | Dubai , Sharjah, Abu Dhabi, Al-Ain |
Saudi Arabia | Jeddah, Taïef, Makkah, Khamis, Musheit, Riyadh, Dammam, Houfouf. |