Beirut, 07-Dec-2020:
In the midst of the highly volatile socio-economic environment Lebanon is facing, Sécurité Assurance one of the leading insurance companies, is weathering the storm. Not only has the company maintained a healthy financial standing, but it has once again shown its solidarity with the Lebanese people. In fact, Securite Assurance was among the first companies to cover damages caused by the tragic Beirut blast (car damages in full, and property damages in large amounts). The company has covered these claims despite still not receiving any approval nor any payment from their re-insurers due to the fact that the official report is still missing.
But how did the company do all of that?
Sécurité Assurance has built a healthy and diversified book of business that has yielded consistent returns. The company has also adopted a very prudent investment strategy. Unlike some other insurance companies, Sécurité Assurance is not exposed to Eurobonds nor treasury bills. In fact most of the company’s assets are deployed in short-term USD cash deposits which allows the company to have the liquidity needed to serve clients well. The company’s capital amounts to 15 Mn USD, which positions it among the highest capitalized insurers in the market, especially following the Eurobond impairment that some of its competitors had to undergo. The company’s balance sheet is also protected by world-class A-rated reinsures like Hanover Re, Swiss Re and Lloyd’s syndicates. The company’s financial robustness was attested by the Ministry of Economy through an official certificate.
This strong financial standing, coupled with efficient operations and strong digital muscles, has enabled the company to serve customers “insanely well” and to cover claims as fast as possible as was the case for the Blast. As a result, Securite Assurance is today one of the fastest growing insurance companies in the market, not to mention one of the most exciting places to work for.
Mr. Anthony Khawam, CEO of Sécurité Assurance commented: “For years, we have worked hard to build our service and digital infrastructure. We have also worked very hard to get our culture right. In fact culture is our number one priority, because if we get culture right, everything else follows. Finally, we have also implemented a prudent investment and technical strategy. All these factors combined made us achieve our great financial results and our leading customer satisfaction.”
He also added “Sécurité Assurance has become a force of good in the country. We are making a positive difference, and we’ll continue to lead and manage through a very human lens, doing everything we possibly can to make people proud of us and all we stand for. You have my word on this.”
Sécurité Assurance operates from modern offices supported by advanced technology which links the company’s branches and agencies around Lebanon and across the MENA region. Staffed by more than 250 employees and agents, the company has one objective: to continue on serving clients, insanely well!