Anuar Mohd Hassan Elected Chairman

25th Technical Board meeting
Wednesday 21/10/2009
Kuala Lumpur – MALASYA

Anuar Mohd Hassan
Elected Chairman

The Technical Board held its 25th meeting in Kuala Lumpur to elect a Chairman form its newly elected members.

The Managers “Trust Re” chaired the meeting with this single item on the Agenda.

Mr. Anuar Mohd Hassan, President & Group CEO of MNRB (Malaysian Re) was elected by the Members as Chairman of the Technical Board.

Mr. Hassan presided over the Syndicate Technical Board and General Assembly meetings since it was established in 1999

Mr. Hassan thanked the Board Members for their confidence and assured them of his continued dedication to the Syndicate.

11th General Assembly meeting held in Kuala Lumpur

Wednesday 21/09/2009
Kuala Lumpur – MALAYSIA

The 11th General Assembly meeting of was held on 21/10/2009 in Kuala Lumpur – Malaysia during the 21st General Conference of the Federation of Afro-Asian Insurers & Reinsurers (FAIR)

The main items on the Agenda were; the approval of the Technical Board report, the approval of the auditors report & the 2008 Financial Statements, and the election of a new Technical Board.

The Technical Board provided a full report on the operation of the Syndicate during 2008 with a future outlook, and indicated that 4 additional companies joined the Membership of the Syndicate with effect from 1/1/2009 Thus; increasing the total number of the Syndicate Members to 36 from 22 Afro-Asian countries.

The General Assembly also approved the auditors report and The Financial Statements for the year ended 31/12/2008 which showed that the premium written by the Syndicate during 2008 totaled US$ 8,631,686 compared to US$ 7,084,282 in 2007 and the net profit realized from the operation is US$ 2,547,812 compared to US$ 2,408,590 in 2007, while the average Loss Ratio stood at 28% during the 9 years of operation.

A new Technical Board for a 4-year period starting 1/1/2010 was elected as follows:

Malaysian Re
– Malaysia
Arab Insurance Group (ARIG)
– Bahrain
Misr Insurance Co.,
– Egypt
Bimeh Markazi
– Iran
Libya Insurance Co.,
– Libya
General Insurance Corp.
– India
Trust Re (Managers)
– Bahrain

The General Assembly thanked the Members of retiring Technical Board for their valuable contributions during the term of their duty, and wished the newly elected Members all the best in their new assignment.

The General Assembly also thanked the Managers “Trust Re” for their continuous efforts in handling the business of the Syndicate.