ABOUT US
about chedid re KSA
Chedid Re initially started business in the kingdom of Saudi Arabia in 1998; in view of the important potentials of the Saudi market and the drive and supervision of SAMA to achieve high insurance industry standards, we established in 2010 operations in the Kingdom of Saudi Arabia; a move which is in line with our strategy and objectives and enables us to capitalize on Saudi Arabia’s fast-growing insurance and reinsurance sectors.
We are expecting to grow our business to become the leading reinsurance broker, and offer our clients a wide range of tailored services addressed to their specific needs and in line with the market requirements.
The challenge of Chedid Re is to continuously enhance its value proposition to the different insurance and reinsurance companies so that we can be at the forefront of the industry, whilst supporting growth and a vibrant future for the market. The Saudi market deserves the best of what is available in terms of technical expertise and know-how, and we believe we have an important role to play in assisting a professional and profitable insurance industry.
about chedid re
Chedid Re, a company of Chedid Capital, is the story of an exceptional team comprised of ambitious individuals who are constantly seeking success. Over the years, Chedid Re has become a leading institution with over 300 employees and operations running across Europe, the Middle East, Africa and South Asia.
With a devoted team of experts based in Beirut, Casablanca, Dubai, Limassol, London and Riyadh, we strongly believe in integrity, professionalism and loyalty, and we are committed to adhering to guidelines, and in ensuring delivery in growth and profit projections. This has enabled us to become an intermediary of choice for many regional and international capacity providers for the insurance market and recognized as one of the Top 20 Reinsurance Brokers in the world (GR magazine in
collaboration with Swiss Re) and an official Lloyds Broker.
In June 2015, Chedid Re was registered as a Lloyd’s broker. The approval came as a natural extension of our longstanding and successful cooperation with Lloyd’s that started at the very beginning, 22 years ago.
Chedid Re’s registration as a Lloyd’s broker is testament to how our company is a trusted, international partner and renowned player in the reinsurance industry. Our sustained expansion has resulted in dynamic international exposure.
Chedid Re’s business activities and goals complement Lloyd’s growth strategy, and the registration into the Lloyd’s market as a broker demonstrates that both Chedid Re and Lloyd’s have aligned goals.
MESSAGE FROM OUR CHAIRMAN
Abbas Al-Brahim, Chairman
Chedid Re KSA
When Chedid Re first ventured into Saudi Arabia in 1998, we knew the Kingdom’s uncharted territory was a green field of opportunity. Long-term success, however, favors timing, wisdom, and strategy that stretch such rewards beyond the big wins. In a highly volatile and fast-evolving environment, our Kingdom’s oil boom since the 1970s may have placed it at the forefront of our region’s economic expansion and diversification – and into a then nascent insurance and reinsurance industry. But it is a resolute commitment to an adaptable, agile, and forward-thinking growth vision that has made our nation a leader by example and a global economic powerhouse today.
Many parallels can be drawn between the Kingdom’s transformation journey and our own over the past two-plus decades. Against the strong winds and whims of global financial markets and regional socioeconomic developments, we launched our operations in Saudi Arabia in 2010, under SAMA’s (Saudi Central Bank) strategic vision for a world-class insurance and reinsurance industry that is rooted in our national ambitions. Our mission was, and remains, to unlock value for our shareholders, clients, and people beyond product and service delivery. Our commitment was, and remains, to leverage our service excellence, technical expertise, top-tier talent, and technological innovation towards diversified and profitable avenues of growth for all our stakeholders. And our strong work ethic was, and remains, the anchor to our solid market leadership and reputation, backed by our stringent corporate governance principles and structure, and an equally rigorous regulatory framework.
The years that followed the 2014-2015 global oil price shock marked yet another turning point in our and the Kingdom’s growth journey. It was then, in 2016, that our wise leadership formulated the Saudi National Vision 2030. Vision 2030 has since served as playbook for “a vital society, a thriving economy, and an ambitious nation” – its three pillars – placing much of the weight on the Kingdom’s strategic location as a hub connecting Asia, Europe, and Africa; non-oil sector and resource expansion; talent Saudization; and e-government transition. Simply put, the Kingdom has outlined a growth roadmap that leads, rather than reacts to change, and one that focuses on portfolio diversification, transparent governance, digital transformation, and human capital. And so have we.
In the past five years, Chedid Re KSA has capitalized on Vision 2030’s transformation roadmap to fast-track its own in and beyond the Saudi market. Our portfolio has grown to include fully-fledged and strongly governed Facultative and Treaty divisions, covering a wide variety of sectors and categories. And our world-class team of experts today counts around sixty dedicated and restless individuals, among whom the vast majority are proudly Saudi talents.
The COVID-19 pandemic was the latest stress test to the strength of our operations and resilience of our people. As did our nation, our group weathered and thrived through this storm, with utmost commitment to our core values of transparency, accountability, and integrity, but more importantly, with a laser focus on the brighter and bigger future that lay ahead. The best is yet to come.
OUR VALUES
We practice what we preach with a performance-driven, goal-oriented, and forward-thinking approach to insurance innovation and leadership. In this ambition, our values form the cornerstone to our success
CHEDID RE PRESENCE
Chedid Re services and solutions are offered from these countries
Immeuble Rive Droite R+ 12 sis Rue des Brasseurs – Zone 3
Abidjan, Côte d’Ivoire
OUR GUIDING PRINCIPLES
Corporate Governance
Our group has a zero tolerance policy for corruption. Our companies operate with a transparent system of rules, practices and processes that balance the interests of our stakeholders, guarantee accountability and minimize the risk of error to a minimum. We involve our shareholders closely in our decision-making, and our managers are effectively challenged and monitored through an independent process to ensure they are performing and completing their objectives while upholding rigorous ethical standards. We are committed to following corporate governance policies that not only aspire to achieve profitable growth, but also to benefit our environment and society holistically.
Compliance
Our stringent compliance culture is backed by our team’s expertise in implementing and maintaining regulations, rules and policies based on transparency, unambiguity and easy understanding.
Risk Management
Our service goes beyond our business expertise where we adopt a risk management culture and help our clients apply it in order to maximize their risk management capacity and risk resilience.
We strongly believe that risk management has a pivotal role in supporting the achievement of both our organization’s goals and strategic objectives.
Our value proposition’s essential pillar is the end-to-end solution proposed by our Subject Matter Experts (SME) involved to propose a world-class risk management framework.
Corporate Social Responsibility
We consider the trust of our stakeholders and communities to be our most valuable resource. To us, success is not only measured by the products and services we offer, but more importantly, it is about providing innovative solutions that ensure sustainable development and serve our environment and societies in the best way possible. Accordingly, we make sure that we are in compliance with laws and regulations and that we are investing in the public good in terms of the projects we take on, the partners we choose and the way we do business.