The Arab War Risks Insurance Syndicate, Bahrain, (Awris) has recorded total profits of $13.6 million for the year 2007, a growth of 25.64 per cent compared to the figures for 2006.

Net premiums for the same year was $20.2 million, a growth of 14.61 per cent, according to figures released after the annual general assembly meeting.

The AGM was followed by  an election for the Technical Committee (Awris board of directors) for the period of three years effective from 2008. The attendees represented 8,615 votes out of 10,000.
 
The meeting agenda covered various subjects, including the technical committee report about results of insurance and investment activities and names of new insurance companies which joined AWRIS as members during 2007, said an official spokesman.
 
The total number of members have reached 160 from 19 Arab countries. The following are the board of directors:

Chairman: Taher Al Haraki, CEO of Dofar Insurance Co, Oman; Deputy chairman: Ashraf Bseisu, deputy CEO of Solidarity, Bahrain.

Members: Fady Shamas, general manager of Arabia Insurance, Lebanon; Khalid Al Hassan, CEO of Gulf insurance Co, Kuwait; Salahuddin Mousa Sluiman, assistant managing director, Shikan Insurance Co, Sudan; Mohd M. Hamada, general manager of Al Ain Ahlia Insurance Co, UAE; Nabeel Qutran, COO of Trust International, Bahrain; Bassam Hussain, general manager of Doha Insurance Co, Doha; Bassam Gelmiran, general manager of Al Wathba National Insurance Co, UAE.

 Awris was established in 1980 by a number of Arab Insurance and Reinsurance Companies operating in the Arabian Gulf area with a primary objective to protect the interests of the local Insurance markets and ultimately the consumers.

Awris started operations on January 1, 1981, with 27 member companies operating iin Iraq, Kuwait, Saudi Arabia, Qatar, Bahrain, UAE and Oman.
 
Awris was based in Iraq in 1980 and moved to Cyprus in 1990. Tt was relocated and registered in the Kingdom of Bahrain by Law Decree Number 8 of 1994. – TradeArabia News Service