Solidarity Group Holding, a member of the Ithmaar banking group and one of the largest takaful companies in the world, has appointed Ashraf Bseisu as the acting chief executive officer. He was earlier the deputy CEO of Solidarity.

Bseisu’s appointment comes following Solidarity Group CEO Sameer Al Wazzan's decision to retire. He was subsequently appointed as an independent advisor to the Solidarity board of directors.

He is currently president of the General Arab Insurance Federation (GAIF) and chairman of the Bahrain Insurance Association (BIA).

Bseisu has been with Solidarity since his appointment as general manager - Finance and Corporate Management in June 2006.
 
“Ashraf is no stranger to Solidarity and has held several senior posts within the organisation,” said Solidarity chairman Khalid Abdulla-Janahi. “His appointment, at the helm of Solidarity Group, is a reflection of the Board’s confidence in his tried and tested abilities to deliver impressive results even in the most challenging market environments,” he added.

On his appointment, Bseisu said, 'The board mandate is clear, and I am privileged to be invited to play such an instrumental role in leading Solidarity forward.'

“To translate the Board’s vision into a tangible reality, we will need to focus, first, on further improving our operations and then on expanding our operations both regionally and internationally,” he added.

Bseisu has more than 20 years of experience in the insurance and financial services sector, where he held several executive positions like the director of strategic planning, chief executive and chief financial and administrative officer.

 He had also worked for major insurance/reinsurance companies and financial institutions such as Arab Insurance Group (ARIG), and Trust International Insurance Company.-TradeArabia News Service