Surety bond seminar
Takaful International (TIC) and Trust Re successfully partnered to hold a Surety Bond conference at the Ritz Carlton Hotel, Bahrain on 6th October 2016.
Approximately 60 professionals from the broking and construction fields were in attendance at the seminar which began with a welcome address from Mr. Younis Jamal Al-Sayed, Chief Executive Officer of Takaful International and Mr. Fadi Abunahl, Group CEO & Director of Trust Re.
Combined, the two companies offer a wide range of guarantees required to take part in tenders and contracts. The seminar shed light on the bonds and guarantees that are normally required under the terms of construction or engineering contracts and the speakers explained how these instruments work and how contractors can benefit from such partnerships.
The seminar opened with a presentation entitled “Why Bond Insurance?” delivered by Mr. Essam Al Ansari, General Manager of TIC. He was followed by Mr. Domenico Esposito, Head of Surety Underwriting at Trust Re who spoke about the technicalities and opportunities of bonds and guarantees.
Lastly, Mr. Patrick Schwegmann, Reinsurance Treaty Underwriter at Atradius Re, presented “Surety Bond Reinsurance: a Win-Win Proposition”.