Page 65 - March 2022 Issue 604 Part 2

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Mohamad Alali (Senior Executive Officer AXA XL Re)

Our focus is providing solutions to our clients whilst maintaining

underwriting discipline and adhering to the AXA values

AXA XL Reinsurance takes pride in its ability to blend underwriting discipline, analytical excellence and deep
client relationships across a broad product offering. It is also proud of its team of talented leaders and under-
writers who are flexible and creative in their approach to underwriting complex risks while prudent in decision
making. As a leading global reinsurer, it is always seeking innovative solutions to some of the industry’s most
pressing problems. It strives to provide alternatives rather than a standardized, product-driven approach to
underwriting risk. After all, it believes that reinsurance is a relationship rather than just a product or transac-
tion. As one of the leading Reinsurers in the world, it has the ability and duty to conduct research and make avail-
able work it does and shares its thoughts. Al Bayan Magazine met Mohamad Alali, Senior Executive Officer of
AXA XL Reinsurance and conducted the following interview.

*In your opinion, what are the main challenges that the industry is facing these days?
- The changing nature of natural catastrophes means that the costs associated with these events are increasing; dri-
ven by a combination of increases in the rebuild and repair costs of impacted assets, increased volume and value
of assets in areas that are exposed to these changing hazards, and the impacts of a changing climate on these cat-
astrophes. There is also inflation which impacts claim trends, the increase in connectivity around the globe high-
lighting cyber exposure, as well as the social and political unrest. It is necessary for the industry to account for the
increased volatility in our pricing models and manage net aggregate exposures.

* How do you evaluate your presence in the region?
- Since setting up in 2014, we had a consistent view of how we wanted to shape the portfolio. The focus has always
been on partnering with a number of key clients to support mutual profitable growth. That view has been enhanced since the AXA acquisition of XL.
Looking at IMEA as a region has also allowed us to take a holistic view of the portfolio across multiple lines of business.
Having the office in the region is key in improving our local knowledge and connectivity to our clients.

* Are you specialized in certain lines in the region?
- We are a non-life reinsurer focused on building a balanced portfolio and partnering with our clients. We take both a holistic view of the portfolio and a line spe-
cific approach to our pricing. All the underwriters in the team are multi-class underwriters with access to line specific underwriters in order to improve knowledge
sharing within the group.

Zagariah Manoj (Managing Director-Manoj Re):

Our intention is to leverage our talent and experience
to become invaluable to the market & our clients

Manoj Reinsurance Brokers was founded by its Managing Director Zagariah Manoj Varghese in Dubai International Financial Center (DIFC), in 2020.
Manoj Re is a brand new broking house with a fresh approach – promoted and managed by passionate industry experts, veterans, and professional
brokers. Mr. Manoj has always believed that insurance is the noble endeavor of extending financial security and peace of mind to society at large and that
by protecting people’s financial interests when they face difficulties, we provide a financial promise of uninterrupted livelihood. Al Bayan Magazine met
Mr. Manoj and conducted the following interview.

* Can you give us an idea about your company? and to our shareholders and to protect all our mutual
- Manoj Re is a fairly new company. It was established interests on this amazing journey.
in the midst of Covid in the DIFC and we got the opera-
tional license by July 2020 so we are 18 months old. * What will differentiate your company from other
Manoj Re was an idea born after spending 18 years as similar companies?
an insurance and reinsurance broker in the Middle East. - There are a lot of brokers and thus a lot of competi-
I felt an unshakeable compulsion to explore my own tion but for me in my 20 years career, I have never
abilities and to create a unique reinsurance broking seen anybody as my competitor because we create
house with a different perspective, approach, and ser- our own territory and play in that territory. What is spe-
vices, benefiting both employees and clients equally. cial about us is the quality, the way we run things, our
Manoj Re supports clients in all dynamics: reinsurance team is young so we are very aggressive and fast
placements, risk advisory, claims management, techni- compared to other brokers. Also, we have strong con-
cal reviews, technical training, and non-technical train- nections with selected reinsurers and clients, the
ing (professional development programs). The company accounts which come to us will never go to any bro-
is managed by industry veterans and passionate bro- ker. We have big accounts from different markets and
kers, extending its service with pace, passion, and pro- in our 18 months, we have already done 20 million
fessionalism. With the support of our loyal clients, Manoj dollar premium.
Re will grow from strength to strength with plans to
expand offices in the key regional markets. We are looking into the entire * Do you think the war between Russia and Ukraine will have an impact
Asia, parts of Middle East and parts of Africa. Our intention is to leverage on the insurance industry in the region?
our talent and experience to become invaluable to the market and our - Technically, it will be affected. When there is a war, the economy and stock
clients by extending fast, prompt, and dependable reinsurance broking ser- exchange get affected, as well as oil and gold. Nonetheless, the nature of
vices and solutions. Our aim is to hit the moon and to be a top global rein- human being is that we will survive, things will keep moving and I don’t see
surance broker and to create the best work culture. As founder and team 2022 as a tough year. We have overcome Covid so mankind has got that
leader, it’s my responsibility to deliver the best to our clients, our employees, kind of power. When we survive, the economy still operates and insurance
is a must. It is something that will never go down.

229 AL BAYAN ECONOMIC MAG - ISSUE 604 - MARCH 2022