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Insight signs JV agreement with Arab Loss Adjusters Int'l LLC of Middle East
Sunday, 30 July 2006
Insight Press Release

Insight Loss Adjusters, a leading Pan-Asian loss adjuster, has signed a wide-ranging joint venture agreement with Arab Loss Adjusters International LLC (ALA) of the Middle-East.

Announcing the move, Singapore-based Insight's Managing Director Mr Nehemiah Neo Lian Sun said the two companies had agreed to form a new joint venture vehicle to be based in the Middle East and named Insight Arab Loss Adjusters International subject to approval by the authorities.

The new company will soon be incorporated in the UAE and have a presence in every country in the Middle East region and many in Asia via its links to its two parent companies. The chairman of the new entity is to be Mr Walid Jishi, who is the chairman of ALA and the Managing Director will be Mr Nehemiah Neo.

Mr Neo said: "I am delighted to be teaming up with Walid Jishi and his company ALA. We believe they share the same values as Insight in terms of the international loss adjusting business.

"These values include transparency, honesty, and the highest standards of professionalism and integrity which our clients demand," he said.

The new joint venture company will seek opportunities both in the Middle East and the Asia Pacific region across a wide spectrum of adjusting and surveying disciplines and expertise.

ALA, which has a strong track record in the fields of finance, engineering and law, has offices in Bahrain, the United Arab Emirates (UAE), Saudi Arabia, Syria, Jordan, Yemen, Kuwait and Qatar.

Insight Group, South- east Asia's leading independent adjuster, has offices and joint venture operations in Singapore, Malaysia, Indonesia, Philippines and China.

It is also the Asia Pacific Office of the vrs Universe global adjusters' network which has 303 offices in 70 countries. Insight is the Lloyd's Agent in Singapore and jointly Lloyd's Agent in Malaysia with its local partner. The group also represents CESAM of France and AIMU of the US, the two leading marine underwriting associations in those countries.

Mr Nehemiah Neo added: "As an independent adjuster, we have long been attracted to the Middle- East because of its growing economies and its vital role as an East-West meeting point and trading centre."

"As a client-led company, Insight will seek opportunities in the Middle East and in ALA, we are sure we have found the right partner."

"With their unrivalled network of offices and relationships in virtually every major business centre in the Middle East, Arab Loss Adjusters was a natural partner for us."

He added that, like Insight, ALA has expanded in recent years to provide a pan-Arabic service to clients which demanded independence.

"We can see similarities, but the main similarity is the clarity of business purpose which we immediately saw with ALA," Mr Neo said.

He noted that the Arab adjuster also had clients which were expanding in the Asia Pacific region and there was scope for Insight to assist with this expansion in its home territories.

Mr Walid Jishi, chairman of ALA, said: "We are pleased to be linking up with Insight, a company which shares our view of professional standards, independence and integrity and also of giving the customer the best possible value."

"We look forward to expanding our business with Insight, not just in the Middle East but in Asia and in other parts of the world."

About ALA: ALA was founded in 1981 to bridge the gap between the market needs for loss adjusters who understand the business environment of the region and the international dimension of the industry.

Over 25 years of diligent efforts and dedication, ALA has become a major provider of claims handling services, employing a team of qualified professionals in the field of Insurance, Finance, Engineering and Law, that have sustained a longstanding presence of unprecedented performance through out the Middle East.

ALA provides full coverage of the Middle East utilising the support of strategically located branch offices in the region and associate offices in major business centres around the world.