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ZIC names Mourad CEO for ME unit

By Staff

As part of its continued expansion across the region, Zurich Insurance Company (ZIC) has announced the appointment of Maroun Mourad as the Chief Executive Officer of its new General Insurance (GI) division.
Maroun will report directly to Saad Mered, CEO of Middle East and Africa, and will be responsible for all GI operations in the Gulf Cooperation Council States and Lebanon.

Saad Mered said: “With many analysts predicting that the local insurance market could double in the near future, the Middle East holds huge potential for Zurich.  Drawing on our global expertise we have recognised that there are considerable opportunities for us to complement our existing Global Corporate operations by expanding into personal and commercial lines of insurance. Maroun’s appointment will help us to consolidate and develop our position following the recent acquisition of Compagnie Libanaise d’Assurances. We have significant investment plans for the region over the next few years as we look to grow our distribution network, product portfolio and service capabilities.”

Maroun will lead the integration of the recently acquired Compagnie Libanaise d’Assurances, a privately owned Lebanese insurer with branch operations in the United Arab Emirates (UAE), Kuwait and Oman.

Maroun joins ZIC from Chedid Capital Holding where he was a Director, having previously moved to Dubai in 2008 to take up a position as Chief Operating Officer for Gulf Reinsurance Limited, a start up reinsurance company based in the Dubai International Financial Centre. Prior to that, he worked for AIG where he was a Financial Lines Manager and Chief Operating Officer with profit centre responsibility for Continental Europe. Maroun began his career with Berkshire Hathaway’s Gen Re where he held several positions in San Francisco, Paris, and London.  He holds Juris Doctor and Bachelor of Arts degrees from the University of California at Berkeley and speaks fluent Arabic, English and French.