Trust International Insurance and Reinsurance Company (Trust Re) has increased in its paid-up capital, from $140 million to $170 million, which reflects the doubling of its authorised capital to $200 million in June last year.

The company's risk committee recommended the timing of capital payments in line with internal capital model projections, said a report in the Gulf Daily News (GDN), our sister publication.

Trust Re chief executive Fadi Abunahl said in line with the company's strategic direction and risk tolerance, the capital increase will reinforce the future growth of Trust Re, allowing it to continue expanding profitably whilst also providing excellent service and security for its customers. - TradeArabia News Service