Since 1980, AWRIS has been serving as the leading war risks insurance syndicate in the Arab region, with a primary goal of preserving the interests of national and regional insurance markets, offering a comprehensive range of insurance covers backed up by worldwide A-rated entities.

History

The Arab War Risks Insurance Syndicate (AWRIS) was established on July 1, 1980, following multiple meetings of representatives from several insurance and reinsurance companies operating in the Arabian Gulf countries. The Syndicate agreement was reached during a pivotal conference in Kuwait going into effect on January 1, 1981.

The concept of establishing the Syndicate goes back to 1979, introduced to defend the interests of insurance firms and the wider Arab Gulf region. This led to the establishment of an organization (in the form of a Syndicate) to protect the interests of member firms and offer insurance against the risks they may face.

This organization would allow a member to obtain more value from their commission and profit commission, it would also assure fair and consistent pricing for war risk insurance cover on cargo and vessels traveling to and from the region.

Overview

AWRIS has been a prime example of pioneering pan-Arab ventures, as evidenced by its remarkable growth geographically and technologically over time, including over 189 Arab insurance and reinsurance member businesses from 16 Arab nations (as of 2022). The Syndicate prides itself on offering its members a comprehensive range of insurance covers backed up by top rated worldwide entities known for their highly technical skills and financial solidity.

With over 43 years of experience, AWRIS is synonymous with risk and protection. AWRIS has empowered and supported the Arab Region by stabilizing insurance rates for vessels and cargo inbound.

AWRIS operates with a sophisticated structure obtained and led by prime international reinsurers, including Lloyds of London and other A-rated key International industry players, with the primary goal of preserving the interest of member companies, as well as the national and economic interests of Arab countries.

Why Join AWRIS?

AWRIS has been a prime example of success and pioneering pan-Arab venture, as evidenced by its remarkable progress and development.

AWRIS offers Niche reinsurance covers for War related and Political risks class of business and servicing all its member companies from the MENA markets.

AWRIS Builds a solid financial reserve for member companies, accumulating yearly for the benefit of members.

AWRIS offers vast capacities per Class of business which is considered to be above the normal capacities available in the MENA market.

AWRIS has a unique Business Model, offering its members various incentives depending on the volume of business ceded.

AWRIS grants additional profit commissions, alongside basic profit commissions.

Annual profit sharing and distribution.