Talanx AG subsidiary HDI-Gerling Industrie AG opens up a regional branch for industrial insurance in Bahrain
Manama, Bahrain - July 23 2012 - The Central Bank of Bahrain (CBB) has granted a license to Talanx AG subsidiary HDI-Gerling Industrie AG, to open a branch in the Kingdom of Bahrain for Industrial Insurance.
HDI-Gerling Industrie Versicherung AG is an industrial insurer which covers the needs of industrial and commercial customers for tailor-made insurance solutions.
The new branch will cover all major lines of business in industrial insurance, including engineering insurance, property, liability and marine insurance. The company is a member of the Talanx Group.
Mr. Ahmed Al-Bassam, Director of Licensing & Policy, Central Bank of Bahrain said "We welcome HDI-Gerling's decision to expand its operations in the region by opening its regional branch in the Kingdom of Bahrain."
"The presence of an arm to a reputable institution such as Talanx Group-Germany in the Kingdom of Bahrain is a value added to the leading role that Bahrain holds as a financial center in the region," he added.
"With the establishment of the new branch in the Gulf Region, we are expanding the HDI-Gerling Global Network with a location in a very attractive economic region," said Dr. Christian Hinsch, Deputy Chairman of the Board of Management of Talanx AG and Chairman of the Board of Management of HDI-Gerling Industrie Versicherung AG.
Alongside the German market, the company also has operations in more than 130 countries through foreign branch offices, subsidiary and peer companies, and network partners.
"All these locations are available to the HDI-Gerling Global Network as service units for the International Insurance Programmes of our customers," explained Jens Wohlthat, who is responsible for the International Division in the Board of Management of HDI-Gerling Industrie Versicherung AG. "The advantage for the companies is that they receive service packages directly in their region based on uniform global standards as well as coherent claims settlement," continued Jens Wohlthat. "This approach enables us to meet all the aspirations of our major international customers from industry at any time."
"We welcome the expansion plans of the Group in Bahrain, whereby this branch will be the Group’s third arm in Bahrain after Hannover Retakaful B.S.C. (c) and Hannover Ruckversicherung AG Bahrain Branch, which are taking Bahrain as a regional center for their operations." Mr. Al-Bassam added.