Amana Insurance extends acting Managing Director’s term for 6 months

Logo of Amana Cooperative Insurance Co.

Amana Cooperative Insurance Co. extended the term of Rachid Abi Nader as acting Managing Director for a period of six months from June 6, 2023, until Dec. 6, 2023, the company said in a statement on Tadawul. 

Abi Nader holds a diploma from the National School of Insurance Enass Paris - the foreign section (Master’s degree) in the field of insurance sciences. He also obtained two master's degrees in business administration (MBA) from ESCP Paris and ESA Business School in Beirut, the statement added. 

This is besides completing a postgraduate diploma in digital business from Columbia Business School and Massachusetts Institute of Technology.

He is also experienced in the fields of strategic development, business plans and their implementation, development of insurance programs, marketing, bancassurance, risk management, transforming companies, services and digital businesses, the statement further noted.

According to data compiled by Argaam, Amana Insurance’s board decided, on Nov. 7, 2022, to terminate Suleiman Hilal’s contract as the company’s CEO, appointing board member, Rachid Abi Nader, as acting Managing Director for one month, which was then extended for six months.