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Crescent Global launches global reinsurance subsidiary

The Crescent Global Group this month unveiled the launch of the group's new global reinsurance subsidiary to oversee wholesale expansion plans in the MENA region as well as the Afro Asian markets.

Crescent Global Re Ltd., a managing general agent joint venture which brings together some of the most accomplished Arab insurance professionals will operate via the group's hubs in London, Beirut, Riyadh, and Manama, and take advantage of the group's Lloyd's accredited London market platform.
The company will supply ceding company partners with both Treaty and Facultative services, Binding Authorities, and specialist Readvisory services with special focus on MedX, Underwriting Management, Mergers & Acquisitions, and Product Development.

In addition to conventional classes of business and key areas of practice, the company has recruited several established practitioners who will be joining the company throughout 2011 to focus on onshore and offshore energy, marine, construction, liability, and captive management.

Mr. Nabil Cotran, Chairman of the board of Crescent Global Re Ltd had this to say about the launch,'' The creation of Crescent Global Re comes at a time when the regional insurance industry is at a cross road of change. Companies today are in true need of experienced professionals with specialist knowledge in the key areas shaping the industry's growth. I am confident that the group of specialists that have come together will work alongside its partners in the region to offer this.''

Mr. Jamil Bahou, Group Managing Director had this to say,'' The launch of the new platform is an important milestone in the history of the Crescent Global Group. As an independent arm, we are very keen on building on the success of our Lloyds accredited London market presence with additional upcoming reinsurance hubs planned in 2011 to serve our growing Afro Asian presence. As an MGA, the company will work to manage the group's existing platforms and harness the presence of the group in several key territories with cedant partners.

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