Group CEO's Message
Alpha Lloyds Insurance Brokers LLC
was founded in 2007 with a vision to excel as a niche player in
the Local,
Regional and International Markets .Over the past few years, we have
seen significant changes in the Market and have provided our valuable
clients with insurance solutions and risk management that best suites
their core business.
Due to the impact of the global economic environment, there will be
certain downturn on the international insurance markets which will
filter down to the regional markets. There will be an exit and entry of
insurance and reinsurance companies and much consolidation which will
improve the state of the market and will bring tighter regulations which
will result in more transparency and compliance. The international
market should be going to a hard phase, but we do not see this at this
point in time as the market is soft and we are still able to provide our
customers with excellent deals with most competitive terms and
conditions together with rated securities.
In summary, although underwriters are continuing to show both
underwriting losses and severe reductions in Investment income, the
market remains in a holding pattern. There is no doubt that the
prevailing conditions cannot persist much beyond another year before the
market is compelled to impose general increases across their accounts in
order to make some progress towards achieving profitability.
Khaldoun S. Khartabil
CEO & Vice Chairman
