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BAHRAIN

companies. If you imagine In some senses I agree with
it as a theatrical event, we yori because the insurance
are the team of specialists industry really started back
that you will never see. But in London with the Lloyds
where would you be operation on maritime
without a light or sound coverage. It is the concept
man? We offer the extra of the "coffee house" with
facility for insurance which everyone is all too
companies of capturing the fainiliar.
essence of risk carrying
and allow them the oppor- Today, as you may know
tunity, through their 'risk- from your personal life,
bearing' nature, to have a anything is insurable, from
safety system in case of homes and cars, to medical
adverse events. coverage. It can even cover
individual body parts, such
It is very simple really. Just as a football player's foot.
as any individual would Therefore, to say that the
need an insurance policy maritime trade is the only
on their car or their house, line of business where we
every insurance company operate would essentially
needs insurance to protect overlook the rest of the
its best interests. This is industry. I agree that it is
where the reinsurance the beginnings and the
industry really plays a vital essence of what we are
role. You may ask where it today as an industry, but as
stops. But at some point time evolves and people
you have to note that there become more risk averse,
will always be 'risk', more insurance policies are
What are the we will never be able to
whether you like it or not, taken out. It is a very
consequences for prevent such happenings.
and someone needs to simple domino effect.
carry it. Being that 'secure' Provided these risks are 70u? Trust Re does possess a
very respectable marine
someone to carry the risk is valuable they will most
It is certainly agreed that portfolio, which will
where the ti'ue colours of certainly require a portion
these high-jackings do always be exposed to such
Tnist Re shine. of reinsurance.
have a negative effect on externalities as we voyage
the industry and yes, it is the "open seas". Provided
Q. One tends to Q. The high-jacking of
"inconvenient". However, the way we conduct our
associate reinsurance ships off the Somali
at Trust Re we also business remains constant
only with shipping? Is coast is causing the
appreciate that it is our and pi'udent, we could only
this correct? international commu-
business to cai'ry risk and hope that these high-
nity many headaches.
jackings come to an end.
As an international
coinmunity of all indus-
tries, we need to act
lugelliei Lu prevent these
"hegdgches". At the end of
the day, the consequences
are never good.
Nevertheless, we believe
in our attitudes as a
company and as indivi-
duals, and shall not
necessarily reduce our
exposure due to a few
mishaps.

Q. Is your business
regional or do you
4 2009 Diva 17

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