11 Jun 2023

Alba holds Reverse Insurance Roadshow with major insurance and reinsurance markets

Aluminium Bahrain B.S.C (Alba), the largest aluminium smelter in the world ex-China, held a Reverse Insurance Roadshow, the first of its kind in MENA region, with top-rated insurance and reinsurance markets, in collaboration with Bahrain Kuwait Insurance Company (BKIC) and reinsurance broker Willis Tower Watson on 06 and 07 June 2023 followed by a detailed field tour at Alba premises.

Alba’s Reverse Insurance Roadshow covered the renewal of Alba’s Property Damage and Business Interruption (PDBI) and Alba’s Cyber Insurance policies, and was attended by representatives of Lloyd’s Syndicates and major international companies such as Zurich Insurance Plc - Ireland (London), SCOR UK Company Limited - London (England), Swiss Re International SE Luxembourg, Hannover Ruck SE - per Bahrain branch, AIG MEA Limited - United Arab Emirates, Gulf Insurance Group (Gulf), Bahrain Kuwait Insurance Company B.S.C. and Tokio Marine Kiln - London (England).

Alba’s Chief Power Officer Amin Sultan along with Director Insurance Eline Hilal and Insurance and IR team conducted the one-on-one and group meetings on 06 June with insurance markets to witness first-hand Alba’s excellent risk management framework post which the underwriters and risk engineers visited the Company’s various departments on 07 June.

Commenting on this occasion, Alba’s Chief Executive Officer, Ali Al Baqali stated:

“Alba has set another benchmark in the MENA Region by hosting a Reverse Insurance Roadshow on its premises for its major insurance covers -- Property Damage and Business Interruption and Cyber -- when the norm is to hit the road and meet insurance markets to place these policies. This was a great opportunity to showcase Alba campus and its core assets, so our insurance partners connect with us and gain a renewed sense of our purpose.

I also take the opportunity to express my appreciation to our valued partners Bahrain Kuwait Insurance (BKIC) and Willis Towers Watson, our reinsurance broker.”

Adding further, BKIC’s Chief Executive Officer Dr. Abdulla Sultan stated:

“We are pleased to assist and equally participate in such a prestigious Reverse Insurance Roadshow which is unique to our region. Alba is one of the most dynamic companies in the region and we are positive that this reverse roadshow will provide these top-rated insurers and reinsurers an unprecedented opportunity for an up-close-and-personal perspective on Alba and its risk profile.”

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