Trust International Insurance Pays First USD 4 Million Compensation Installment to Bank of Palestine

Trust International Insurance has paid the first installment of the compensation due to Bank of Palestine, amounting to USD 4 million, as part of the settlement of an insurance claim arising from damage sustained by the bank’s buildings and property in the Gaza Strip as a result of war and political violence events.

This payment reaffirms the financial strength of Trust International Insurance and its ability to meet its obligations toward its clients and partners in the banking sector. It is also in line with the company’s approach of accelerating claims settlement procedures in accordance with the highest standards of transparency, professionalism, and efficiency.

In this context, Mr. Anwar Al-Shanti, Chief Executive Officer of Trust Group in Palestine, stated: “The payment of this installment reflects our financial strength and our firm commitment to our clients. It is part of our ongoing commitment to accelerating claims settlement and strengthening our clients’ trust in us. This achievement also demonstrates the strength of our relationship with our highly solvent reinsurance partners, enabling us to respond swiftly and effectively to our contractual obligations.”

This settlement is considered one of the notable transactions in the Palestinian insurance market, reflecting the pivotal role played by Trust International Insurance in supporting the financial stability of the banking and economic sectors, and reinforcing its position as a trusted partner relied upon to provide coverage for major risks and fulfill its obligations toward clients despite exceptional circumstances.

It is worth noting that Trust International Insurance is one of the companies of Trust International Insurance and Reinsurance Group, which operates across 17 countries regionally and internationally, and is affiliated with Nest Holding Investments Group.

Since its establishment, Trust International Insurance in Palestine has been one of the major Palestinian insurance companies and a leading player in the sector, maintaining its position as the number-one company in the Palestinian insurance market. Trust continues to expand its investments and activities in Palestine through its subsidiaries: Smart Health for Health Insurance Services, Trust Real Estate, and Trust Tourism.