SM Reinsurance Company Sets Sights on Global Expansion
SM Reinsurance Company (SM RE), a leading Dubai-based reinsurer, has unveiled ambitious plans to broaden its market presence beyond its current strongholds in Africa and Asia. This strategic expansion comes as a response to the company’s impressive growth trajectory since its launch on June 1, 2023.
In a short span, SM RE has secured a significant foothold in the global reinsurance arena, underwriting 450 diverse risks and amassing approximately $42 million in Gross Written Premium. This achievement is complemented by a robust technical underwriting profit, underscoring the company’s strong performance.
By collaborating with a network of around 50 reinsurers and reinsurance brokers, SM RE has bolstered its market influence and reach. Under the guidance of General Manager Jacquelin Fine, the company offers coverage across various business sectors, including Fire, Engineering, Liability, Miscellaneous Accidents, and Marine.
Currently, SM RE’s operations are concentrated in Africa (excluding South Africa) and select Asian markets. However, the company is now poised to expand its reach, driven by the vision of “reinsuring the world.” By establishing a broader network of clients and partners, SM RE aims to fulfill this ambitious vision.
Fine expressed enthusiasm about the future, stating, “Our achievements are the result of a strategic focus on Win-Win Partnerships. The growth we’ve experienced is a testament to the dedication of our team and the trust we’ve cultivated with our partners. As we look to new markets beyond Africa and Asia, we are excited about the potential for even greater success in the coming years.”
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