3. What have been the key highlights for your company during 2009?

At Arig over recent years, we have been strengthening our underwriting teams, practices and discipline successfully even within soft markets. This positions us very strongly to remain successful through these difficult times and come out even stronger. We are continuing with our 3 pronged strategy of sound underwriting discipline coupled with the use of corporate risk management tools and a strong corporate governance ethos/culture. Our diversification into personal lines also helps. Further geographical expansion has also reduced our exposure to any one local market. Indeed, the opening of our office in Mauritius to better service our growing sub-Sahara African clients has materialized as planned and we are already seeing the benefits of this.

Arig recorded net profits of US$ 16.9 million for the first nine months of 2009 on the back of solid returns from its reinsurance activities and investments.

4. There has been much debate about the need for the mandatory training of entry level insurance staff in Bahrain. What do you see as the roles of the CBBBB and BIABIABIA moving this forward?

Bahrain has long viewed education and training as a critical foundation stone in the country’s economic development. The support extended to training institutions/centers is a practical demonstration of our Regulator’s commitment for maintaining and strengthening Bahrain’s competitive edge. The role of CBB and BIA in the implementation of the mandatory training of entry level insurance staff in Bahrain is essential and together they have already prepared the necessary platform in the preparation of qualified staff to lead the industry. The BIA and CBB have always worked together in promoting Bahrain as a regional insurance center. This was achieved by coordinating action through the BIBF to meet growing insurance industry training requirements. The BIBF and other training institutes in the country have a track record for providing top quality training for the financial services industry.

5. What are your plans for 2010?

Our strong results as at 3rd Q 2009 encourage us to continue with the same Reinsurance and Investment strategies. We will focus on our strategy of sound underwriting discipline, corporate risk management tools, a strong corporate governance as well as diversification.

In addition, we continue to look for niche opportunities. For example, the Scottish Re life portfolio purchase has been a success for us, and recently, Arig entered into a Joint Venture

operation (HAIM) with the Hardy Underwriting Group, a specialist (re-)insurer operating within Lloyd’s of London and Bermuda. This new venture will focus on capturing a share in the attractive market of large-scale Energy and Construction accounts and start to accept risks incepting from January 2010. Arig will continue to identify and implement such strategic ventures in 2010 and beyond.

6. Reflecting on the Gulf Insurance Forum held in Bahrain, would you like to see more insurance conferences being held in the Kingdom? It is no secret that contrary to the lack of participation at some events in other parts of the region, every conference held in Bahrain seems to always be a hit and well attended. Why is that do you believe?

Bahrain is a well-established and leading business hub in the region, particularly in the financial services and insurance sectors. I believe the region recognizes our professionalism and credibility and when conferences are held here the region wants to be part of that and learn from Bahrain. Long may this continue!