Dubai, United Arab Emirates on 16 November 2023: Chedid Re, a company of Chedid Capital, was recognized as the “Reinsurance Broker of the Year” at the Middle East Insurance Industry Awards (MIIA) 2023, held by MEIR (Middle East Insurance Review) on November 16. This win marks the seventh time Chedid Re has been awarded this prestigious title, in recognition of its steadfast performance and industry contribution.
“When we last took home this coveted award, it was amid a global pandemic and economic shakeup of great magnitude. This year, turbulence is hitting closer to home. It is a challenging context and critical juncture for our region that casts a different lens on our recognition as the Reinsurance Broker of the Year. Beyond any stature of scale and success, we take most pride in this award’s reflection of our enduring commitment and loyalty to our people, to our partners, and to our communities against all odds,” comments Wadih Hardini, Head of Facultative-Global Operations at Chedid Re. “We promise our partners to never rest on our laurels. Our priority remains to safeguard businesses and people in our markets of operation against risk, and innovate agile solutions that can anticipate, rather than only keep pace with the uncertainty surrounding us,” Hardini adds.
Since its establishment in 1998, Chedid Re’s network has expanded to over 300 experts – based in Abidjan, Beirut, Casablanca, Dubai, Limassol, London, Paris, and Riyadh – working with 400-plus insurance companies in Europe, the Middle East, Africa, and South Asia. The past two-plus decades have marked several milestones for the company. In 2015, the company was officially registered as a Lloyd’s broker. Since then, Chedid Re has consistently ranked among the world’s top 20 reinsurance brokers, and has claimed MIIA’s Reinsurance Broker of the Year title for five consecutive years between 2017 and 2021.
The last two years also marked several milestones for the company’s global expansion. In 2022 and 2023, Chedid Re launched its first Africa out of Abidjan, obtained its license to conduct insurance and reinsurance brokerage activities in France, and established its regional headquarters out of Saudi Arabia. The company’s portfolio has kept pace with its expansionary drive, today covering reinsurance, retrocessions, treaty, and facultative products and services.