Zurich Insurance Company, a division of Zurich Financial Services, announced that it has officially launched its general insurance branch in Bahrain, following the issuance of its Overseas Insurance Firm (Branch) License to conduct General Insurance business from the Central Bank of Bahrain (CBB).
ZIC’s bulletin said the branch would “focus on delivering specialized general insurance product propositions to the Bahraini market.” It will initially focus on “corporate customers and over time work with distribution partners to address the needs of commercial and retail customers in Bahrain.”
The company has been “present in Bahrain for over 20 years through Zurich International Services Middle East, a regional servicing platform coordinating and addressing the general insurance needs of Zurich’s multinational corporate customers in the Middle East and Africa; and, Zurich International Life, a market leading provider of life insurance products in Bahrain with uncontested leadership in unit linked savings products,” said the bulletin.
Saad Mered, CEO of Zurich Middle East, described the launch in Bahrain as an “important milestone in our strategic development and growth plans in the Middle East.” He added that having a “presence in the Bahraini market is an important early development for setting a solid foundation for ZIC’s growth in the region.”
Source: Zurich Financial – www.zurich.com
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