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International General Insurance Holdings Ltd. elects new board members

United Arab Emirates: Wednesday, March 21 - 2007 @ 16:38

Mr. Hani Tarazi and Mr. Jonathan Silver have joined the board, which is comprised of eleven directors each bringing complimentary experience. They include Mr. Majid Al Ghurair, Chairman; Mr. Wasef Jabsheh, Vice Chairman and Chief Executive Officer; Mr. Akbar Habib; and Mr. Mohammed Abu Ghazaleh.

“The Board of Directors of the Company has elected members of the highest calibre to help it achieve its ambitious vision of becoming (re)insurer of choice in the region. We welcome Mr. Tarazi and Mr. Silver as new members of the board and look forward to drawing on their experience.” Vice Chairman and Chief Executive Officer, Mr. Wasef Jabsheh said.

Mr. Hani Tarazi joins the board bringing his experience as former Managing Partner U.A.E of Deloitte & Touche (Middle East) where he specialized in auditing and management consultancy. Mr. Tarazi is presently a director in Saba & Co. Intellectual Property and a member of various international trade mark associations.

Mr. Jonathan Silver brings over 27 years of legal practice experience working in the Middle East in areas of international banking and finance, mergers and acquisitions, private equity, project and construction work. Mr. Silver heads up the regional offices of Clyde & Co., the largest international commercial law firm in the U.A.E, where he has overseen a dynamic period of continued growth.

Mr. Jabsheh also stated, “Mr. Tarazi and Mr. Silver will be of great value in helping with the execution of the Company’s expansion plans.” It is worth noting that IGIH recently announced that it had agreed to acquire S.R. Bishop Underwriting Ltd. (SRB). SRB is an underwriting agency located in London and a recognized leading marine insurer. The agency has been in operation since 2002 and underwrote a premium income of over US$ 55 million in its last full underwriting year. The transaction is expected to close shortly.

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Wednesday, March 21- 2007 @ 16:38 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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