The Bahrain-based Arab Insurance Group (Arig) has announced changes in the board of directors of Arig Re, its reinsurance operation, with the appointment of Udo Krueger, Arig’s CEO, as chairman, reported the Gulf Daily News.
In addition to Krueger, the new board will include Adli Al Aseeri as vice-chairman and Abdul Latif Al Rayes as director.
Al Aseeri has also been appointed to the post of Arig Re general manager, and will assume the post at the end of the year upon the retirement of Farooq Khwaja, who is leaving Arig after 20 years. He will be retained by the company as a management advisor.
Arig currently is on an expansion drive, having recently unveiled a plan to add life and medical-based financial services to its existing insurance and reinsurance portfolio. In the global reinsurance market, Krueger said, Arig Re remains committed to the market but will be looking to forge new strategic partnerships with like-minded reinsurance companies. – (Albawaba-MEBG)