World’s Most Powerful Arabs 2019
Sun 30 Jun 2019 09:03 AM
Farid Chedid

Company: Chedid Capital group of companies

Designation: Founder, chairman and CEO

In 1998, Farid Chedid founded Chedid Re, the group’s first company. Starting off with a humble beginning, this iconic insurance solutions provider now ranks number one in the MENA region, with a network of offices that span Beirut, Dubai, London, Limassol, Casablanca and Riyadh.

Today, Chedid Re is recognised as one of the top 20 reinsurance brokers in the world. Its perfect synergy of customer-centricity, solid management expertise, powerful partnerships and innovative products have made it one of the most sought-after reinsurance brokers to more than 400 insurance companies in the MENA region, having operations running from more than 45 countries across Europe, the Middle East, Africa, Pakistan and the Indian sub-continent.

Having started off with Chedid Re from his base in Cyprus, Farid Chedid realised in 2004 the growing need to relocate into the burgeoning market of Beirut as he believed that Lebanon, the strategic Arab country known for its credible human capital, had the best talent to service the Arab markets. That’s when it became the company’s head office.

Armed with a very strong position in the reinsurance broking market, Chedid went on to establish Chedid Capital in 2006, in order to cater to, and invest in the insurance and reinsurance business in the Middle East and Africa as a first step. Moreover, Chedid established Chedid Insurance Brokers network in Lebanon, Cyprus, Turkey, Greece, Qatar, the UAE and Saudi Arabia; an ambitious entity considered today as one of the most reliable insurance broking networks in the entire Middle East and Africa region, growing stronger every year.

Chedid’s repertoire also includes being a board member of a joint venture in City Brokers, the leading insurance broker in Mauritius and East Africa, as well as serving as the chairman of Al Manarah Insurance Services, one of the UAE’s premier insurance brokers.

The group’s achievements have brought Chedid the recognition among the Power 50 Most Influential Figures in the Insurance Industry in the Middle East and North Africa for the past 10 years in a row, in addition to being named as the Middle East and Africa Industry Achiever of the Year in 2016.

Chedid is a member of the board of trustees at Notre Dame University; a member of Human Rights Watch, Beirut Committee; a UNDP Goodwill Ambassador; a Fellow of the Middle East Leadership Initiative (MELI), member of the Aspen Global Leadership Network (AGLN); a member of the board of Endeavor, Lebanon Chapter, and a member of the Young President Organisation (YPO), Lebanon Chapter.