Who we are
As of January 1, 2022, Umbrella RE is officially launched in the market through its headquarters located in the Tripoli Tower with a capital of 90 million Libyan dinars. It was founded on December 22, 2021, by a group of businessmen interested in the insurance sector, its development.
It is a great privilege for Umbrella Re to be the first local reinsurance company serving the Libyan market.
Meeting the needs of direct insurance companies in the Arab region, especially in the Libyan market, by providing reliable and highly efficient reinsurance services.
Reducing the leakage of foreign currency abroad, preparing national insurance elements, and training and qualifying technical cadres in the field of reinsurance, which is one of the most important services that should be a priority for the national economy.
Breaking the monopoly of foreign reinsurance companies, and one of the most important reasons for their establishment is to provide absorptive capacity in the Libyan insurance market
The Umbrella Reinsurance Company is seeking to obtain a credit rating from the major international rating companies, and it has already begun to deal with EM Best to evaluate the work of the Umbrella Reinsurance Company to obtain a rating that allows the company to expand its business, which will positively reflect on the company’s results in the future. It is also seeking to obtain the ISO 9001:2015 certificate, which is an integrated management system that will be applied at the level of the umbrella reinsurance company.