Dubai – MENA Herald: Celebrating its tenth year in business, Chedid Capital Holding, the leading global solutions provider in the insurance and reinsurance industry, recently held a board meeting at its headquarters, to take stock of the company’s extraordinary achievements throughout a decade of rapid growth, innovative development and remarkable change, as well as to pave the way for a brighter future for its subsidiary companies, its clients and the communities it serves around the world.
Since its inception in 2006, Chedid Capital Holding has continued to achieve its vision of becoming an insurance and corporate solutions power house that attracts major regional and international clients, partners and investors, while operating from its expanded network of offices in Beirut, Doha, Dubai, Limassol, Casablanca, Istanbul, Riyadh, London, Mauritius and East Africa.
During the past years, Chedid Capital Holding established strategic partnerships in the region, while keeping eye on its expansion plan. Recently, the multi-awarded insurance and reinsurance regional financial group, announced the acquisition of 75% of Al Manara Insurance Services Co Ltd, an insurance brokerage firm operating in the United Arab Emirates – adding another key milestone to the holding’s strong record in the country through the presence of its Reinsurance subsidiary Chedid Re and its brokerage firm Chedid & Associates. This move was part of the company’s expansion and consolidation plan in countries of the EMEA region by 2017.
On the occasion of the company’s 10th anniversary, Mr. Farid Chedid, Founder Chairman and CEO of Chedid Capital Holding, said:
“From its day one in business, Chedid Capital Holding has never lost sight of its vision of becoming the first choice of clients, businesses, investors and partners in insurance markets in the Middle East, Europe and Africa. Driven by such an ambitious goal, Chedid Capital Holding has relied on a unique blend of innovation, discipline and a bespoke approach to modernize tools and revolutionize operations in this constantly-evolving, highly competitive industry. The result has been a complete range of inventive solutions that grants our clients ultimate peace of mind and empowers them with a solid platform to grow their businesses.”
Throughout its decade-long history, Chedid Capital Holding has successfully formed a number of separate strategic business subsidiaries that support its vision and cater to the ever-evolving needs of clients, businesses and the markets in which it operates.
Those subsidiaries include Chedid & Associates, an authorized Insurance Broker that leverages the Group’s strategic network to provide tailor made products and coherent, responsive services across its different offices in Europe, Middle East and Africa.
SEIB, a leading Qatari insurance and reinsurance company offering its clients premium insurance coverage and solutions.
Chedid Corporate Solutions, an end-to-end consultancy service provider that lays out a ’blueprint’ for companies geared specifically towards their growth and success in the market place.
Chedid Capital Holding’s first success story, Chedid Re has achieved a remarkable feat when it was authorized by different Lloyd’s syndicates and other regional and international reinsurers to underwrite risks, enter into contracts of reinsurance, and issue reinsurance documentation on their behalf.
Chedid Re’s registration as a Lloyd’s broker came to prove that the company is a trusted international partner and a major regional player in the reinsurance industry with a sustained expansion that results in full international exposure.
Over the years, the sound policies, winning strategies and flawless execution of Chedid Capital Holding’s subsidiaries delivered a headcount CAGR (Compound Annual Growth Rate) of 32% for the period from 1999 to 2015, a premium income CAGR of 40% for the same period, and a premium income of US$500M in 2015 alone.
“None of those accomplishments, however, would’ve been possible without the integrity, professionalism, good faith, and solid results consistently delivered by the team at Chedid Capital Holding and its subsidiary companies”, Mr. Chedid said. “Our demonstration of customer-centricity and innovative approach has built customer loyalty which translated, year in and year out, into the fast growth of the company”, he concluded.