Ashraf Bseisu to head Solidarity Group
MANAMA, BAHRAIN – 15 February, 2010 – Ashraf Bseisu has been appointed Acting Chief Executive Officer of Solidarity Group Holding, a member of the Ithmaar banking group and one of the largest takaful companies in the world.
Bseisu’s appointment, by the Solidarity Board of Directors, follows an earlier announcement that Solidarity Group CEO Sameer Al Wazzan had retired and was subsequently appointment as an independent advisor to the Solidarity Board of Directors.
Bseisu, who was formerly the Deputy Chief Executive Officer of Solidarity, is currently President of the General Arab Insurance Federation (GAIF) and Chairman of the Bahrain Insurance Association (BIA), and has been with Solidarity since his appointment as General Manager - Finance and Corporate Management in June 2006.
“Ashraf is no stranger to Solidarity and has held several senior posts within the organisation,” said Solidarity Chairman Khalid Abdulla-Janahi. “His appointment, at the helm of Solidarity Group, is a reflection of the Board’s confidence in his tried and tested abilities to deliver impressive results even in the most challenging market environments,” he said.
“The vision of the Board of Directors is to see Solidarity Group become the leading international Islamic-oriented insurance group in the world,” said Janahi. “On behalf of the Board of Directors, I wish Ashraf continued success in his latest assignment,” he said.
Bseisu welcomed the appointment, and said he was looking forward to the challenges that lay ahead.
“The board mandate is clear, and I am privileged to be invited to play such an instrumental role in leading Solidarity forward,” said Bseisu. “To translate the Board’s vision into a tangible reality, we will need to focus, first, on further improving our operations and then on expanding our operations both regionally and internationally,” he said.
Bseisu has more than 20 years of experience in the insurance and financial services sector, where he held several Executive positions like the Director of Strategic Planning, Chief Executive and Chief Financial and Administrative Officer. He also worked for major insurance/reinsurance companies and financial institutions such as Arab Insurance Group (ARIG), and Trust International Insurance Company.
Bseisu is a member of the board of several companies, financial institutions, and professional bodies. He is the Deputy Chairman of the Arab War Risk Insurance Syndicate (AWRIS); Member of the Executive Council, GCC Coordination Commission for Insurance & Reinsurance Companies; Member of the Board of Trustees of the Human Resources Development Fund of Bahrain; Chairman of Solidarity Family Takaful, Egypt; Chairman of Solidarity Takaful S.A., Luxembourg.; Deputy Chairman of First Insurance Company, Jordan; Member of the Board of Directors of MAA Takaful Berhad, Malaysia. He is also on the Advisory Board of the Bahrain Institute of Banking & Finance (BIBF), and an active member of the Young Arab Leaders organization (YAL).
Bseisu holds a Masters degree from the "London School of Economics”, United Kingdom, and a Bachelors degree from “Southern Methodist University” in the United States of America. He is also an Associate member of the Chartered Insurance institute of the UK, and an Associate member of the American institute of Management Accountants.