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Cooperation Agreement Arabia Insurance – LCI

In June 2010, Arabia Insurance and The Lebanese Credit Insurer s.a.l. (LCI) have finalized a cooperation agreement intended to jointly develop credit insurance in the regional territories.

LCI will bring technical know-how and expertise in underwriting the risks in the region, as well as Re-insurance support through Atradius Re; while Arabia Insurance will issue credit insurance policies in the 7 countries where it operates. Arabia will also give access to their corporate customers to credit insurance services.

Both companies are very keen on increasing the penetration of such a product in the region. Companies in Lebanon, Saudi Arabia, Jordan, Syria, Kuwait, Bahrain, Qatar, Sultanate of Oman, and the United Arab Emirates will benefit from credit insurance as it will help them grow and increase their sales while protecting it against bad debts.

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