The platform will cover underwriting, claims, retrocession and accounting. According to Eurobase, it is intended to support MENA Re’s rapid growth in operations, and its investment into growth across key markets.
It is also part of a wider focus on asserting a long-term position within the regional reinsurance market.
MENA Re is a 100 percent-owned subsidiary of the Doha Insurance Company, which holds an “A-“ rating from both S&P and A.M. Best.
It specialises in providing facultative reinsurance for property, engineering and construction, and operates in the Middle East, North Africa and Pakistan.
Joe Locke, CEO of Eurobase Insurance Solutions, said: “The selection of Eurobase and synergy2 by MENA Re further emphasises Eurobase’s high level of exposure, trust and industry expertise in the region.”
“Working closely with such esteemed clients as MENA Re showcases the significant value to the region’s financial services sector which synergy2 and the rest of our portfolio of products offer.”
Sanjeev Badyal, CEO of MENA Re Underwriters, added: “MENA Re is delighted to have selected synergy2 from Eurobase to support it in its growth plans in the Middle East.”
“Not only was the core system functionality a key driver but the flexibility in terms of the project approach and the proven nature of Eurobase’s experience in reinsurance were important factors that led us to place our business with them.”
He added: “Eurobase’s combination of domain expertise and the capabilities of the synergy2 system provided us with a platform that we can use to support us now and as we grow our business in the region. We look forward to a long and close working relationship with the Eurobase team.”