Mr. Jamil R. Bahou
Chairman and Managing Director - Crescent Global Group



1. What is your outlook on the state of the regional economy? When will we start to see recovery?

I believe it is safe to say that nobody really knows when consistent recovery will occur. If I have to predict, I am optimistic the second half of 2010 will be the period to watch. The regional economy is still sending mixed signals, and we need to wait.

2. What is your outlook on the Bahrain insurance market, and the new compulsory medical insurance law proposed?

The Bahraini insurance market continues to go from strength to strength, and I foresee another year of double digit growth in overall market premium. In particular, I am most optimistic on the growth prospects of the SME community as well as domestic retail.

With regards to the new medical compulsory law, we greatly welcome this. It will definitely be an uphill battle as local insurers struggle to recruit, train, and put the adequate resources in place to take on the volume. At Crescent, employee benefits is a big portion of our business and we have already made preparations to take on the extra volume as soon as health insurance becomes compulsory in the Kingdom.

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

Retail, Retail, Retail and more retail. It is no secret that 2009 has been a difficult year economically for the region and the entire world. Crescent Global has always been a grass roots innovator, and innovate is what we have done. In less than a year, we have diversified our business model and narrowed our focus. At the end of the day, it is bottom line and service that matter to us. It is true we saw over 40% growth in premium volumes in the first half of the year alone, however whether it is our reinsurance, risk consulting, employee benefits, or retail business, we have focused on the 80% by serving better the 20% of Crescent customers that add the most value to our bottom line.

This does not mean we are turning away any business, but we have been very selective how and to who we market our risk and reinsurance solutions to on a regional level. Crescent Global is not for every customer or cedant.