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Libano-Suisse was created in 1959 in a partnership between Union Re Zurich and a group of prominent Lebanese businessmen. This was executed with the firm belief that the Lebanese expertise in insurance would allow new national companies to replace foreign agencies and could in turn export their know-how to the rest of the Arab world.
Since that time, we have seized new opportunities by implementing branches, agencies and subsidiaries in a number of Arab countries in the 60’s and 70’s and Africa in the 80’s, including a presence in Europe. In a sense, we are one of the pioneers of insurance in the Middle East.
In the past decade, we took advantage of the rapid changes that were occurring in the region in terms of new markets and regulations, and consequently reinforced our presence within the area. Our challenge was to succeed with the integration of different entities and to establish ourselves as a regional insurer with local competence. |
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Through the years, we were supported by first class reinsurance partners and have developed unique technical and financial skills as well as rigorous ethical and professional codes that benefit both the customers and shareholders.
The last five years have been a period of progress and achievement in numerous areas of our company; constantly updating our information technology systems, introducing online services, increasing our productivity, and enhancing customer relations.
Moreover, the company has ameliorated its educational program for the staff by incorporating fresh ideas and new talent. We enrich our spirit by our continuous dedication and professionalism.
When facing new challenges in the market, we find the proper solution; whether in reinforcing our capital, expanding the various products and distribution channels through the development of bancassurance, increasing the cross-selling potential through active cooperation within our group, developing synergy between our companies, or making our systems and processes homogeneous in an attempt to cut costs.
In the rapidly-changing environment of business culture, power shifts, and technological advancements, we try to stay flexible enough to deal with rising demands, as well as anticipate global insurance trends.
As we approach our 50th anniversary, we face the future with the same trust that we earned from our clients throughout the years.
Michel Pharaon
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