About Us

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About Trust Re

Established in 1981, Trust Re is a closed joint stock company proudly based in the Kingdom of Bahrain. For over four decades, we have built a strong foundation in the reinsurance industry, driven by our commitment to trust, reliability, and long-term partnerships. Our long-standing presence in Bahrain reflects our deep-rooted values and our dedication to contributing to the growth and development of the region. At Trust Re, we take pride in our heritage and remain focused on delivering solutions that support the evolving needs of our clients across markets.

Board of Directors

The Board comprises highly experienced professionals who guide our vision and strategy with integrity and expertise, including seasoned actuaries and experts in global reinsurance.

Philippos Mannaris

Chairman

Prof. Chris Parsons

Vice Chairman

Khadijah Binti Abdullah

Independent Non-Executive Director

Lakhdar Moussi

Independent Non-Executive Director

Yassir Albaharna

Executive Director

Mohsin Altaf

Corporate Secretary

Executive Management Team

At Trust Re, our Executive Team brings together over 100 years of collective knowledge and experience in reinsurance and financial services. Their expertise ensures we meet the evolving needs of our clients.

Yassir Albaharna

Group Chief Executive Officer

Kamal Tabaja

Chief Operating Officer

Mohsin Altaf

Chief Finance Officer

Nabil Hajjar

Member of the Executive Team
MD FAIR Oil & Energy Insurance Syndicate

Risk Management and ERM

Risk Management

We view risk management as essential for driving operational efficiency and safeguarding stakeholder value. Our well-defined Risk Management Policy and robust Enterprise Risk Management (ERM) framework guide all our risk-taking activities, ensuring a balanced approach to risk and reward.

ERM Framework

Our ERM framework is designed to support Trust Re’s strategic and operational goals, aligning with the company’s vision, mission, processes, technology, and governance.

Risk Management Strategy

Our strategy is built on a foundation of clearly defined risk appetite and limits to support appropriate risk-taking, complemented by an embedded risk culture that assigns clear responsibilities for effective governance. We prioritize proactive management of corporate risks, addressing preventable, strategic, and external risk categories with a robust internal control framework, risk mitigation measures, and corporate policies. To ensure resilience, we have implemented a comprehensive Business Continuity Management System, supported by timely communication and reporting of risk information to all stakeholders.

Company Mission and Values

Our mission is to be innovative in providing reinsurance solutions and prompt responses, always. Our brand values (Trust, Dynamic, Team Spirit) help shape our image, communicate in a clear and consistent way and influence how we are perceived so that we can push our business forward.

Shareholders

Nest Investments (Holding)

Nest Investments (Holdings) Limited, the holding company of Trust Re, has been in existence for over 20 years. The Group’s subsidiaries, associates, and affiliates operate across more than 23 countries in North America, Europe, Africa, the Middle East/Gulf Region, and Asia Pacific. With total assets exceeding USD 5.1 billion and an annual turnover of over USD 620 million, Nest Investments is a globally recognized enterprise. Bringing together extensive industry experience and specialized expertise, Nest operates in diverse fields, including Insurance, Reinsurance, Reinsurance Broking, selected Real Estate Developments, Banking, and World Trade Center operations. Learn more at www.nestco.org.

Subsidiaries

Trust Insurance Management (TIM)

Trust Insurance Management (TIM) is a wholly owned subsidiary of Trust Re, functioning as a Lloyd’s Coverholder and Underwriting Agent for well-rated insurers and reinsurers. TIM’s operations provide significant benefits to Trust Re, such as access to Lloyd’s expertise in specialty insurance classes like Cyber, additional capacity for Trust Re’s business expansion, and the strong financial ratings of the capital providers.

Trust Underwriting Limited (TUL)

Trust Underwriting Limited is a wholly owned UK-based subsidiary of Trust Re. Its primary activity is providing corporate capital to various Lloyd's syndicates, participating in the Lloyd’s market.

Corporate Social Responsibility

At Trust Re, as a multi-cultural and international organization, we recognize that we operate within diverse cultures and communities around the world. Over the years, we have been fortunate to experience significant prosperity, and we believe it is our responsibility to share some of this good fortune with those who are less fortunate. As part of this commitment, Trust Re runs an active and vibrant Corporate Social Responsibility (CSR) program that supports a range of initiatives. We take pride in our dedicated CSR Committee, which works tirelessly to engage with local communities and raise awareness internally. The committee addresses a wide array of social and environmental issues, supporting charities, organizing activities for orphans, and promoting health and environmental awareness among our employees. Through these efforts, we strive to foster a culture of responsibility and compassion, empowering our team to create a positive impact both within the company and in the broader community.

Recruitment

At Trust Re, we foster a vibrant, inclusive culture that values diverse perspectives and backgrounds. We believe in fairness, respect, and transparency, ensuring that trust is built at all levels. Our environment thrives on collaboration, open communication, and a shared belief in achieving the best outcomes together. We are committed to continuous learning, offering opportunities for professional growth and career advancement. Adaptability and innovation are key to our dynamic workplace, where creativity and proactive problem-solving are encouraged. All recruitment is conducted through LinkedIn, where we regularly post open positions. We invite candidates to follow our page for the latest opportunities to join our team and contribute to our culture of trust, collaboration, and excellence. If you’re interested in joining our team, we invite you to explore our current openings on LinkedIn and stay connected with us there.

Yassir Albaharna

Group Chief Executive Officer
With a renowned international profile and an extensive marketing network, Yassir brings over 36 years of in-depth experience in the reinsurance industry. He previously served as CEO of one of the leading reinsurance organizations in the Arab world and has held the position of Vice Chairman at Trust Re since 2019. Since January 2024, he has also been appointed as an Engagement Board Member (International) at the Chartered Insurance Institute (CII) for a term of three years.

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Kamal Tabaja

Chief Operating Officer
Kamal studied the Executive Management Program at the prestigious INSEAD Business School and is a Fellow of the Chartered Insurance Institute (FCII), UK. He began his career as a Systems Engineer and has since accumulated over two decades of experience in the insurance and reinsurance industry. Kamal has been with Trust Re since 2002, where he has held various underwriting roles and led the development of multiple business segments.

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Mohsin Altaf

Chief Finance Officer
Mohsin, a qualified Chartered Accountant, joined Trust Re in 2018, bringing extensive experience in financial management within the insurance industry and a solid understanding of related regulations. Prior to joining Trust Re, he was part of the management teams at several internationally renowned insurance and reinsurance organizations, including ACR and AXA. In these roles, his responsibilities spanned capital management, corporate restructuring, financial reporting, planning and analysis, as well as treasury functions.

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Nabil Hajjar

Member of the Executive Team MD FAIR Oil & Energy Insurance Syndicate
During his 40-year career, Nabil has held senior positions in several reputable insurance & reinsurance companies across the UAE, USA, Cyprus, and Bahrain. He has attended various specialized courses, including on-the-job training in London, Munich, Berlin, and Zurich with international firms like Munich Re, Allianz, and Swiss Re.

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Abdallah Noureddine

Head of IT
Abdallah has more than 20 years of experience in information and communication technology. He has managed diverse multidisciplinary ICT projects and programmes and holds an M.Sc. from a leading American university.

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Ashraf Ibrahim

Head of Legal
Ashraf has worked as a lawyer, legal Consultant, Corporate Board Secretary and Arbitrator for several companies specialised in the fields of commercial trading and real estate since 1993. His experience in the laws of various Middle Eastern countries including the GCC spans more than 26 years. Since 2011, he has been working with Trust Re as Head of Legal Department

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Hussain Al Salman

Head of Investment
With Trust Re since 2011, Hussain has over 15 years of experience in Investments and Portfolio Management. Before joining Trust Re, Hussain held various positions in different financial institutions, including Arab Insurance Group.

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Muhamad Nizam Shaidon

Compliance Officer & MLRO
With Trust Re since May 2015, Nizam is a Certified Anti-Money Laundering Specialist (CAMS) and Certified Global Sanctions Specialist (CGSS). He has more than 15 years’ experience in the Financial Services Industry, primarily in Regulatory and Financial Crime Compliance.

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Faisal Alawi

Head of Claims
Faisal has been part of the Trust Re team since 2008, accumulating over 15 years of expertise in managing Facultative and Treaty claims across diverse lines of business. Holding a degree in Mathematics from the University of Bahrain, he further fortified his skill set with a certificate in Accounting Technicians (QCF) and an Insurance Advanced Diploma from BIBF. Faisal has also undertaken various specialized courses, enhancing his proficiency in the intricate landscape of the industry.

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Wasif Abrar

Head of Finance
Wasif, a qualified Chartered Accountant with over 18 years of experience, oversees the finance function at Trust Re, managing accounting, financial reporting, regulatory compliance, and taxation. He joined the company in 2016 and serves on the Board of Trust Insurance Management, a wholly owned subsidiary of Trust Re, specializing in MGA services.

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Hemant Nambiar

Head of Technical Accounts & Credit Control
Hemant has been in the re/insurance industry for the past 30 years. Before joining Trust Re 18 years ago, he worked with an insurance company and leading reinsurance broker in India. He holds the ACII (UK) qualification and is a Fellow of the Insurance Institute of India.

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Adeel Ul Haq

Head of Financial Planning & Analysis
Adeel is a financial services professional with 15 years of expertise in banking and reinsurance, focusing on risk management and finance. Adeel is a FCCA, CFA Charterholder, and Holds a Master’s degree from the University of London. Adeel has been part of Trust Re since 2016, showcasing his commitment to excellence and specialized knowledge.

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Samir El Mouaffek

Head of Treaty & Retrocession
Samir’s areas of expertise comprise treaty underwriting (all classes of business), business development, accounts handling, O/S losses and commutations, pro-rata and XL treaties pricing.
Previously, Samir was Regional Director & Senior Underwriter-Treaty at Trust Re, in charge of marketing and underwriting Treaty reinsurance business from Africa and Levant Regions.

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Ahmed Al Mahmeed

Head of Operations
Ahmed is Head of Operations at FAIR Oil & Energy Insurance Syndicate, an independent entity managed by Trust Re. As an Associate of the Chartered Insurance Institute (ACII), Ahmed brings a wealth of knowledge and expertise to his role, demonstrating a commitment to maintaining high professional standards. Ahmed holds a Bachelor of Science in Engineering, providing him with a unique blend of technical and managerial skills. His journey in the reinsurance sector began in 2010 when he joined.

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Mohamed Salman

Head Of Facultative Underwriting
Leading the Facultative lines of business at Trust Re is Mohamed, an Associate of the Chartered Insurance Institute. Armed with a Masters in Business Administration with a specialization in Finance, Mohamed boasts over 20 years of invaluable experience in the dynamic field of insurance/ reinsurance.

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Ali Mohsen

Head of Personal Lines
With Trust Re since 2017, Ali has over 15 years of experience in establishing and managing operations related to Affinity products and extended warranties. His professional background extends to academia – he was Senior Lecturer at BIBF’s Center of Insurance for a period of 8 years.

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Philippos Mannaris

Chairman (Independent Non-Executive Director)
Philippos is a First-Class Honours graduate in Actuarial Studies from the London School of Economics and Political Science. He is a qualified actuary and a member of the Association of Actuaries of Cyprus and the UK. Since 2003, he has been with Aon Hewitt and is currently Partner of Aon’s Global Retirement & Investments Practice. His experience working with GCC clients spans almost 20 years.

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Prof. Chris Parsons

Vice Chairman (Independent Non-Executive Director)
A full Professor in Insurance at Cass Business School, City University of London, Chris Parsons has engaged continuously with the insurance industry for more than 40 years as a practitioner, researcher, consultant and writer. He has delivered consultancy services and training courses in the UK and around 30 other countries.

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Khadijah Binti Abdullah

Independent Non-Executive Director
Currently Director of the Financial Education Network at Bank Negara Malaysia, Khadijah has a strong track record in leadership, transforming teams and organisational culture. Her experience in Education and Training is vast. Previous appointments include CEO of the Performance and Delivery Unit (PADU) at the Ministry of Education in Malaysia and CEO of the Malaysian Insurance Institute (MII).

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Lakhdar Moussi

Independent Non-Executive Director
Lakhdar’s career spans 45 years in executive management positions in various sectors including Audit, Banking, Manufacturing, Contracting and Insurance in Canada, Europe and the GCC. In his capacity as consultant and executive manager, he has spent more than 25 years involved in strategy and business development initiatives in the insurance industry.

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