Capital increase for Arab Re

During its meeting on November 15, 2006 in Casablanca, the Board of Directors of the reinsurance company ARAB RE decided to raise its capital from 40 to 50 million USD. The company, which achieved a net profit of 7.5 million USD in 2005, is aiming at a turnover of 50 million USD for 2006. The 2007 forecasts expect turnover to be comprised between 55 and 60 million USD.