Raymond Kairouz, GM of UAE at Chedid Re/Image: Supplied
For an industry built on guaranteeing resilience, its own has been put to the test repeatedly, severely, and differently in nearly every global market. From geopolitical instability to inflationary pressures to regulatory growing pains, there have been plenty of reasons and motives to retreat from (re)insurance – in the region as much as elsewhere. Where others did just that, we consolidated and doubled down.
Markets defined by volatility demand a long-term playbook that is invested in their continuity, grounded in regulatory agility, and enabled by portfolio versatility. Over the last decade, many reinsurance players in the region have responded in kind to boom-bust cycles; they would enter, exit, and re-enter, largely placing sentiment over strategy. This short-termism has created gaps in local service delivery and, sometimes, even put regulatory trust at stake. Operating across different political, economic, and sociocultural landscapes requires a level of commitment that cannot be outsourced or short-lived. It’s why we invest in people and platforms, but most importantly, presence.
Chedid Re’s timeline of staying power is proof that resilience is as much about timing and trust as it is about capital or compliance. With each expansionary move, our goal has remained clear and become clearer: establish early, operate locally, and stay long enough to scale responsibly. In the UAE, where we’ve planted deep roots since 2007 and launched our DIFC subsidiary in 2024, our focus has been on cross-border innovation, collaboration, and expansion. In Saudi Arabia, where we established our office in 2010 and then our regional headquarters in 2023, we’ve built on a different kind of momentum, led by vision first, volume potential next.
The truth is, where market nuances and dynamics come into play, there is not one single definition of resilience. In one market, it looks like cautious and conservative growth. In another, it’s about simply standing your ground. And in others, it’s about scaling fast and furious. From our vantage point, with exposure to nearly every kind of operating climate across Europe, the Middle East, Africa, and parts of Asia, it’s clear that resilience is becoming more situational and less static.
This realisation, tough as it is, requires the local expertise to predict and experience to preempt. Our local teams have consistently identified regulatory shifts, anticipated compliance developments, and flagged emerging risks ahead of the market. Rather than ‘plug-and-play’ models exported from headquarters, we’ve adapted our brokerage and claims strategies to market-level risk understanding – whether that’s political upheaval, energy exposure, or foreign exchange volatility. This means, for instance, reengineering placement strategies at speed, or retaining underwriting capacity through policy structures that can help mitigate currency swings. And it most certainly, almost always, means clearing licensing hurdles and reshaping how coverage is placed to comply with local rules.
The ability to operate compliantly and grow competitively is often overlooked and understated in our industry. Our network in more than 85 countries is supported by a governance model aligned with international best practices and regional nuances. This depth of regulatory understanding is what sets us apart in markets like the UAE, where we’re fully licensed under the DFSA, one of the region’s most stringent and forward-looking frameworks. It’s also why we’ve strengthened our boards and leadership teams with experienced advisors and industry veterans, reinforcing our compliance and governance frameworks across jurisdictions. But you don’t last long here only by mastering reinsurance and regulations. You do it by also understanding risk and boardroom priorities in every sector you secure. What audit committees need. How corporates think about capital adequacy. Where shareholders see exposure. Resilience for any reinsurance broker today is about knowing everyone else’s business as well as they do their own. In practical terms, this means advising on business continuity, capital efficiency, and regulatory alignment as expertly as we do on coverage gaps.
Now, as we expand and reinforce our presence in new and existing markets, our goal is to build credibility and capacity for the long term. While the same operational DNA that has worked for us in other markets applies – local knowledge, governance-first approach, and specialised expertise – we know the rules may and will be entirely different in other fast-growing but complex regions. We’ll bring the lessons of the past two-plus decades, but never the same strategy or playbook.
Sometimes, the opportunity lies in striking while the iron is hot. Other times, it’s about seeing long-term potential in short-term volatility. But it’s always, always about knowing how to stay there once you’re there. That’s the heart of resilience. And that’s our commitment to our clients, our partners, and our markets.
