Chedid Europe Reinsurance Brokerage Limited, headquartered in Dubai, UAE, has announced its registration as a Lloyd’s broker.
Chedid Re, which is a subsidiary of the Lebanese group Chedid Capital Holding, said this business move comes as a natural extension of the longstanding successful cooperation that started in April 1999 with Lloyd’s, when Chedid Re began operating as a Lloyd’s coverholder in Cyprus.
Chedid Re’s registration as a Lloyd’s broker proves that the company is a trusted international partner and a major regional player in the reinsurance industry, the company said in a statement.
“I am pleased that Chedid Re has become a new registered broker at Lloyd’s. The goal of Lloyd’s Vision 2025 strategy is to become the global center for specialist insurance and reinsurance, and we look forward to working with Chedid Re in achieving this,” said Umron Ahmed, Lloyd’s head of broker relations.
“We congratulate Chedid Re for becoming a new registered broker at Lloyd’s and we would like to wish them success in all their future activities,” said Victoria Natar, superintendent of insurance in Cyprus.
“Chedid Re’s business activity and goals fit perfectly within Lloyd’s growth strategy, and our registration into the Lloyd’s market as a broker shows that we and Lloyd’s are aligned and it’s testament to the track record of a company that started in Cyprus 17 years ago,” said Farid Chedid, chairman & CEO of Chedid Re.
As an approved Lloyd’s coverholder, Chedid Re is authorized by certain Lloyd’s syndicates as well as by leading global reinsurers to underwrite risks and enter into contracts on their behalf. Chedid Re’s team delivers reinsurance solutions to insurance companies in the Middle East, Africa and Europe through its offices in Beirut, Dubai, Limassol and Riyadh.
Source: Chedid Re
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