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«Active Capital» For Re-Insurance Expands In the Middle East

The company intends to expand the Egyptian insurance market by contracting with Egyptian insurance companies and offering a wide range of products and services to companies and customers as well as its expansion plan in the Middle East. The company seeks to increase the share of the Middle East and Asia from the size of its business in 2019 and targets small and micro enterprises alongside it guarantees products for companies wishing to enter tenders and auctions without the need to resort companies to banks.Raymond Martins, Executive Vice President of Active Capital Reinsurance, said that the company was established in 2007 in Barbados and specializes in banking and other insurance products and provides insurance coverage to major financial institutions such as banks, finance companies and institutions worldwide.In addition to their expansion in other continents besides South America, which has been operating since the establishment of the company, and helped the company to expand and form a large insurance premium portfolio through the expansion in Europe, the Middle East, North Africa, Asia and the Pacific region in Various branches of insurance to provide the appropriate insurance solutions needed by customers.He also disclosed that his company was classified in 2014 by the AM Corporation.The Corporation has rated the company in 2018 and granted it an"A-"rating for the financial strength in a stable outlook and an"A-" rating for its credit outlook.To develop its products such as bank insurance, warranty and liability insurance, as well as engineering insurance and energy insurance beside marine insurance (goods).He explained that his company offers its clients the services of actuarial expertise as well as risk management, financial insurance and insurance consulting, in order to meet the insurance and financial needs of the customers together. He pointed out that his company achieved 100 million dollars insurance premiums around the world during the period of January to September, and expected that the size of premiums will reach about 140 million dollars by the end of 2018, compared to 92.2 million dollars in 2017, pointing out that the company aims to achieve 150 million dollars premiums Over the next year.Mr.Martin also added that The South American continent currently accounts 80% of the company's business and the remaining 20% are in the Middle East and the Asia Pacific region. The company's plan for 2019 is to increase the share of Asia Pacific and the Middle East to 25% and have the remaining 75% for South American.For his part, Fernando Figa, an associate of the company, revealed that his company operates in many Arab insurance markets, such as the UAE, Qatar, Bahrain and Kuwait besides Jordan and Egypt, pointing out that his company contracted with some Egyptian insurance companies, such as Suez Canal Insurance, Misr Insurance and Egyptian Takaful Insurance"as well as« Egyptian Saudi Insurance House » and seeks to contract with the rest of the Egyptian insurance companies. He added that his company has four branches around the world in Barbados, Panama, Miami, and London, adding that the opening of new branches is related to the size of the company's business in each continent or geographic region in the world. He added that his company's partnership with Collins Insurance Group, which is engaged in insurance brokerage, reinsurance and insurance brokerage activities in Jordan, UAE and Egypt, is focused on banking insurance products, engineering insurance and energy insurance, as well as a product to cover unemployment risks through the use of information technology and mobile applications in Property and life insurance.He explained that his company offers solutions to customers who wish to obtain a letter of guarantee for bidding to compete in government and private tenders, as well as auctions instead of resorting to these banks and obtaining a letter of guarantee under a bank account for them.The company offer includes a security document with re-insurance.He revealed that the company's absorptive capacity ranges from $ 3-20 million per risk, targeting small-, medium- and small-scale entrepreneurs while obtaining a small share in insurance for major projects such as energy insurance.He also pointed out that the paid-up capital of the company is currently $ 30 million dollars, revealing that there are negotiations with new investors to participate in the company's ownership structure. He expected the negotiations to be resolved in the next few weeks and that there is a plan for the new investors to double the company's capital to $60 million dollars within the next two years.