Seib approves 2017 plans

The board meeting of Seib Insurance & Reinsurance Company LLC (Seib) met yesterday to discuss the financial results of 2016 and approved the company’s 2017 plans.

The meeting was chaired by Sheikh Jabor bin Yusef bin Jassim Al Thani (pictured) in the presence of Seib’s CEO and Executive Board Member Farid Chedid.

During the meeting, Seib’s Board of Directors discussed the Company’s financials, how to maintain its profitability and growth amid the current regional economic situation and global developments, as well as deliberated over Seib’s plans for the new year, in light of the recent speech by the Emir HH Sheikh Tamim bin Hamad Al Thani at the Advisory Council, the new Human Resource law and the upcoming changes in legislations.

Sheikh Jabor bin Yusef bin Jassim Al Thani, Chairman of the Board of Directors, said:”Our board meeting was the perfect occasion to honor our board members, whose sound policies, vision and smart decisions were integral to the success that Seib has achieved over the years and the remarkable performance of our company in 2016.”

” Along with the integrity and professionalism of our staff and their faithful commitment to our value creation process, the board’s directives has helped Seib achieve a 20 percent Average Annual Growth in gross written premiums over the past 3 years.”

Elaborating on the Company’s financial position, growth strategy and future plans, Farid Chedid, Seib’s CEO and Executive Board Member, said:“In spite of the challenging economic conditions in the region and around the world, Seib is well on track in terms of its financial figures, key performance indicators and its capacity to achieve future growth.