Chedid Re, a company of Chedid Capital Holding – one of the top 20 reinsurance brokers in the world, and the only Arab Lloyds Broker – has been awarded the best reinsurance broker in the Kingdom of Saudi Arabia by the prestigious Arabian Business Awards for outstanding success and innovation in the reinsurance industry.
Held on the 19th of February, the 2018 Arabian Business KSA Awards honored top individuals and companies that have delivered success, innovation and excellence, as well as those that have made a vital contribution to the vibrancy of business within Saudi Arabia and across the region.
The crowning of Chedid Re for the award reinforces the company’s market-leading status in the Kingdom of Saudi Arabia. The company, in collaboration with multiple capacity providers, and fueled by ongoing market research and exposure, has successfully created a range of innovative be-spoke re-insurance solutions and services for companies in Saudi Arabia.
Mr. Elie Abi Rached, CEO of Chedid Re KSA, commented on the occasion:
“We are delighted and honored to be awarded by highly-acclaimed Arabian Business Awards. The nomination is a testament to Chedid Re’s excellent business reputation, effective management, and sustainable performance. Chedid Re has always been at the forefront of implementation of quality management measures in its day to day operations, which reflects in its strong performance over the years. This Award was generated and heightened from our clients, of which we would like to share it with them, as we remain committed to servicing them with transparency and efficiency. By targeting the best practices that position our business to qualify for awards, we have optimized our company’s performance and established a culture of achievement that promotes sustainable growth“.
“KSA’s insurance market is the biggest in the region and remains poised for further rapid growth in the years to come, as the economy expands and diversifies, leading to greater demand for reinsurance products and higher rates of affordability among the enormous potential consumer market under the guidance and supervision of the Saudi Arabian Monetary Agency. We will continue this journey with a firm strategy, and keep providing Saudi recruits continuous training and career advancement opportunities to develop their skills, attracting local talent and building a Saudi national workforce of high potentials to be capable of leading KSA’s reinsurance business today and in the future,” he added.
The Award is one of the latest in a string of other prestigious regional and international accolades. The company bagged the Reinsurance Broker of the Year award for the year 2017 at the 4th Middle East Insurance Industry Awards (MIIA), the “2016 MEA Risk & Insurance Excellence Award” by Global Reinsurance and StrategicRISK, the Middle East Insurance Industry Awards 2015 (MIIA), INSUREX Awards 2010, 2011 and 2013 and the “Reinsurance Broker of the year” titled at the Gulf Insurance Awards 2010.
In a relatively short span of time, Chedid Re has become the intermediary of choice for many regional and international capacity providers for the MENA insurance market, becoming a leader and front-runner in Europe, the Middle East and Africa.