International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Waleed Jabsheh as the executive director of IGI UK. The appointment is part of the company’s ambitious plans to grow in new and existing markets.
Jabsheh will convert from non-executive to executive director of the Board at IGI UK, and in addition to his new role in London, he will maintain his position as president of IGI Bermuda.
Jabsheh is moving from Amman, Jordan and has been with IGI since its foundation in 2002. As President of the company, he has been instrumental in the development of IGI and will now help to accelerate the company’s future growth plans.
While in London, he will assist IGI UK chief executive officer Andreas Loucaides in growing the company’s international business, and is tasked with devising a strategy to achieve scale with a focused purpose.
Jabsheh will be responsible for overseeing all aspects of the underwriting function in the UK and enhancing its international portfolio of business, which currently accounts for 70 percent of the company’s gross premium income. He will also oversee IGI’s growth ambitions, which includes enhancing its geographic platforms and expanding business lines and underwriting teams.
“I am looking forward to leading IGI into an exciting new phase of development,” said Mr. Jabsheh. “We have established a platform for a truly global company, with offices in Dubai, London, Amman, Bermuda, Casablanca and Malaysia. We are moving forward with a clear strategic plan in place as we continue laying down the tracks for future success, which is consistent with our philosophy of prudent underwriting and continued profitability.”
IGI currently writes approximately $240 million in gross written premium, and is planning to increase this to $350 million – $400 million by 2020, subject to favourable market conditions. The company is looking to profitably expand its profile from its Middle Eastern roots into an international operation, writing business worldwide.
Welcoming the move, Loucaides said: “London is an important trading centre for IGI, with the majority of our senior underwriters based in the city writing international business. Waleed’s move is a significant step for the development of the business, where I look forward to working closely with him as we lead the business through its next phase of growth.”
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