LCI, the leading credit insurance company in Lebanon and the Middle East, reached a milestone as it celebrated its 10 year anniversary with a special event held on June 1st, 2011 in the presence of LCI’s clients, partners and shareholders at al Mandaloun Club.

During the celebration, LCI Chairman, Mr. Gerard van Brakel, congratulated LCI’s management and team and confirmed the commitment of Atradius and Atradius Re to LCI.
Mr. Karim Nasrallah, LCI managing director, spoke about how LCI started by insuring domestic Lebanese risks and quickly expanded the scope of its business to cover the world, taking credit risks on companies located on all 5 continents, in more than 60 countries.

LCI has managed to position itself strongly in the GCC region, providing an indispensable tool for companies to protect their receivables and increase their sales. In addition to credit insurance, LCI is also providing its clients as well as international credit insurers, with debt collection and corporate rating services on regional companies.
Over the last 3 years LCI’s business has grown at an average of 70% per annum. This has earned LCI the 12th ranking in the Lebanon 25 fastest growing companies in 2010.
Again over the last 3 years LCI has succeeded in maintaining an average loss ratio below 10%, thanks to tight credit control and proactive debt collection.

During the celebration, Mr. Nasrallah unveiled the recent joint venture of LCI and FIMBank (LCI’s Malta based strategic partner) to launch Levant Factors which will offer invoice financing and sales ledger administration mainly to SME’s in the Levant Region.

Mr. Nasrallah concludes: “This makes us a unique stop shop! A unique provider of credit management services and alternative trade financing tools.”

The speech was followed by a dinner and a long evening of entertainment and live music shows that LCI’s guests enjoyed till late night.