AL-MAWARID Brokerage S.A.L
In recent years, local banks have aligned to the world industry in a headlong search for new sources of growth. An alternative growth is bancassurance, i.e. the sales of insurance products by banks, which is proving to be an increasingly powerful force in the market. Brought to its local dimension, the primary outcome of a bancassurance operation includes: product synergies, rapid premium collection, and higher customer retention.
Within this perspective, AL-MAWARID Brokerage S.A.L. was established in 2000 as a specialized bancassurance brokerage firm with the strict intent to serve the large customer base of AL-MAWARID Bank S.A.L. The company provides a full range of insurance services through a risk management force which deals with corporate customer and a retail division which tailors over the counter credit related, life property and casualty products. Today, with a compounded 20% 3-year growth rate, the company has earned its position as one of the fastest growing bancassurance operations in Lebanon.
AL-MAWARID Brokerage S.A.L. has been strongly involved in the development of non-traditional insurance distribution operations in Lebanon. During this period, the company has been particularly involved in bancassurance schemes where on top of having contributed to the improvement of the policies of AL-MAWARID Bank S.A.L., its has contributed in articulating its retail strategy around insurance products. Hereunder are strengths of the company:
Specialized management force (including technical and actuarial skills)
Products design capabilities (development of retail activities)
Risk management approach (catering corporate needs)
R&D (including MIS capabilities)
Strong ties with reinsurance partners (underwriting facilities)
AL-MAWARID Brokerage S.A.L.
has built strong relationships and developed strategic agreements with a couple of high standard local and foreign insurance companies present in Lebanon. These agreements enable the company to enjoy a strong competitive advantage in the market particularly in the area of policy conditions
and claims settlement
Contact AL-MAWARID Brokerage S.A.L.
Beirut – Hamra Makdessi Street
Wakfiyat Al Hakim bldg