Global insurer Zurich has announced that its is reducing the number of licenses it holds in Bahrain from three to two in order to simplify its legal structure in the Kingdom and enable more resources to be devoted to customer service.

Zurich has liquidated the ZISME (Zurich Insurance Services Middle East) licence, which was registered in Bahrain in 1983 to administer and manage the activities of Zurich Insurance Group.

Zurich will continue to hold two licenses in Bahrain providing a full suite of life and general insurance products and services. ‘Zurich International Life Limited’ is a legal entity providing life insurance solutions; while ‘Zurich Insurance Company Ltd’ provides general insurance products.

Zurich has been operating in Bahrain for more than 30 years and is the only international insurer in the Kingdom offering both life and general insurance products, said Andrew Dawson, general manager of Zurich International Life in Bahrain.

“Zurich remains totally committed to Bahrain’s insurance market through its existing two licenses. We continue to see great potential in Bahrain and are investing for further growth,” he added.

“We would like to reassure our customers and distribution partners in Bahrain that the closure of the ZISME license will have no impact on Zurich’s operations or service levels in Bahrain. Any existing business with ZISME will be seamlessly transferred to Zurich Insurance Company Ltd,” added Sivaramakrishnan, general manager of Zurich Insurance Company Limited, Zurich’s General Insurance arm. – TradeArabia News Service