Youssef Al Kareh has been appointed General Manager of Solidarity General Takaful “SGT”, a subsidiary of Solidarity Group Holding, one of the largest Takaful companies in the world.
Al Kareh was formerly Acting General Manager at SGT, and has been with Solidarity Group since his appointment as Head of Risk Management at the beginning of 2009.
“Youssef is no stranger to Solidarity and has held several senior posts within the group,” said Solidarity Group Chief Executive and SGT’s Vice Chairman Ashraf Bseisu. “His appointment, at the helm of Solidarity General, is a reflection of the Board’s confidence in his abilities to guide our flagship company in the current challenging market environment,” he said.
“The vision of the Board of Directors is to see Solidarity General become the leading Sharia’ compliant insurance company in the Kingdom of Bahrain,” said Bseisu. “On behalf of the Board of Directors, I wish Youssef continued success in his latest assignment,” he said.
Al Kareh welcomed the appointment and thanked the Board of Directors for their continued support. “I am privileged to have been selected to lead the Company as we push ahead with the implementation of our strategic plans in Bahrain,” said Al Kareh. “I am confident that, under the Board’s directives and with the support of the management team, we will be able to translate our Corporate Vision into a tangible reality,” he said.
Al Kareh represents a wide range of experience in the areas of risk management, direct insurance, reinsurance, alternative risk transfer (ART) solutions, asset management and investments. Prior to joining Solidarity, he was a Director of Investment Structuring at an Islamic investment firm in Bahrain. Before that, he was the General Manager of Ensurion, a boutique ART/captive insurance consultancy where he spearheaded the setting up of the first captive insurance company domiciled in the MENA region. Al Kareh was a risk management consultant at Marsh Ltd. in London having been a part of its Structured Risk Practice Unit serving blue-chip clients, public companies, and a number of quasi-governmental bodies.
Al Kareh holds an MSc in Financial Engineering from the ICMA Centre at the University of Reading where he graduated with top distinction. He is a Fellow of the Chartered Insurance Institute in London (FCII) and a Chartered Insurance Practitioner, a Member of the Securities & Investment Institute (MSI) and an Associate Member of the Association of Corporate Treasurers (AMCT).