Zurich Insurance appoints key official
Dubai, January 24, 2011
Zurich Insurance Company in the Middle East has appointed Maroun Mourad as the chief executive officer of its new general insurance (GI) division.
Mourad will report directly to Saad Mered, CEO of Middle East and Africa, and will be responsible for all GI operations in the GCC states and Lebanon.
“With many analysts predicting that the local insurance market could double in the near future, the Middle East holds huge potential for Zurich,” said Mered.
“Drawing on our global expertise we have recognised that there are considerable opportunities for us to complement our existing Global Corporate operations by expanding into personal and commercial lines of insurance.”
“Maroun’s appointment will help us to consolidate and develop our position following the recent acquisition of Compagnie Libanaise d’Assurances SAL. We have significant investment plans for the region over the next few years as we look to grow our distribution network, product portfolio and service capabilities,” he added.
Mourad will lead the integration of the recently acquired Compagnie Libanaise d’Assurances, a privately owned Lebanese insurer with branch operations in the UAE, Kuwait and Oman.
“I am delighted to be leading the launch of key growth initiatives in the commercial and personal segments and look forward to working closely with the existing global corporate team to further widen the footprint of the general insurance division in the region,” Mourad said.
Mourad joins ZIC from Chedid Capital Holding where he was a director.
He holds Juris Doctor and Bachelor of Arts degrees from the University of California at Berkeley. – TradeArabia News Service