To our Stakeholders,

The business year 2008 was volatile as Lebanon continued to face the political unrest triggered in 2005 and security concerns heightened during May 2008. Starting mid year 2008, we witnessed a shift into political stability as the Doha accord was reached.

Living out to its long tradition since 1983, AL MASHREK insurance & reinsurance SAL was able to sustain the worse of circumstances and capitalize from favorable conditions.

I am proud to report that during 2008, “AL MASHREK” has succeeded in significantly promoting its corporate goodwill and in increasing its market share and shareholder’s equity.

The company’s financial statements at the 2008 year end will also reveal that growth was coupled with AL MASHREK’s tradition of maintaining technical profits and in acquiring a high quality portfolio at sustainable costs.

To that end, “AL MASHREK” acknowledges the relentless efforts of its staff and management in promoting the Quality Culture within the institution during all circumstances.

The company’s success could not have been achieved without the active support of its most valuable partners: our Reinsurers, our Brokers & Agents and our Clients to whom we remain grateful.

We have high hopes and commitments for the years 2009 onwards. We plan to further consolidate our position within the Lebanese insurance market and we reiterate our conviction in the spirit and contents of our corporate Vision which will guide our future path to distinction.

Ladies and Gentlemen, I am convinced that “AL MASHREK” is set for a prosperous future.

Sincerely,
Abraham Matossian
Chairman of the Board of Directors