FAIR Oil & Energy Insurance Syndicate was incorporated as an independent legal entity in January 1999 in the Kingdom of Bahrain by a Law Decree 7/1999 and started its operation on October 1, 1999. The principal objective of the Syndicate is to provide a regional capacity in Oil and Energy related business, provide technical assistance to insurance companies and develop their staff skills.
The Syndicate works in the same way any conventional reinsurance company operates. Thus, it underwrites business from FAIR Members, non-members, brokers and/or other sources, principally dealing with the Afro–Asian Oil & Energy business risks for the benefit of its Members.
The operation is managed by “Trust Re” one of the most reputable reinsurance companies in the region, known for its experience in this field of business, under a supervision by a Technical Board appointed by its General Assembly which consists of 21 major insurance and reinsurance companies from 15 Afro-Asian countries. With sizable reinsurance capacity, the Syndicate established itself as a reliable reinsurance security for oil and energy related risks in addition to Nuclear Energy risks.
FAIR Oil & Energy Insurance Syndicate is proud to be the only entity of its kind to be rated by AM Best, a reputable international rating agency.
Trust International Insurance and Reinsurance Company B.S.C. (c) Trust Re is a reinsurance firm with headquarters in the Kingdom of Bahrain. Our Company comprises over 280 employees located in our Bahrain Head Office and Branch Offices in Cyprus and Labuan, Malaysia. We also have a Representative Office in Morocco, operating under the Casablanca Finance City and a Liaison Office in India.
Our geographical scope includes the Middle East, Africa, Asia, CEE, SEE, Russia and CIS countries. Trust Re provides reinsurance protection to many leading direct insurance companies in its geographical area of operation, in the form of annual Treaties on proportional and non-proportional bases with a sizable underwriting capacity. We offer Facultative reinsurance in the following classes: Oil & Energy (offshore and onshore), Marine Hull & Cargo, Alternative Energy, Property, Engineering, Specialty Lines, Aviation and Affinity. Our service offering includes Life and Health reinsurance.
We enjoy strong relationships with blue-chip, international reinsurers. This further enhances our security, already provided for by our strong capital position.