PIF - The Palestinian Union of Insurance Companies Holds its Annual General Assembly Meeting and Elects New Board for the 2025–2026 Term

The General Assembly of the PIF Companies held its annual ordinary meeting today, Monday, chaired by Mr. Hamzeh Sharouf.

During the meeting, the General Assembly approved the administrative report and financial statements for the fiscal year ending on December 31, 2024. It also ratified the report of the independent external auditor and the audited financial statements.

The Assembly granted discharge to the outgoing Board of Directors for the previous term and appointed Ernst & Young as the Union’s external auditor for the upcoming term (2025–2026).

The General Assembly elected the Board of Directors for the new term (2025–2026), which includes:

• Mr. Hamzeh Sharouf – General Manager, Palestine Insurance Company

• Mr. Nihad Asaad – General Manager, Al-Mashreq Insurance Company

• Mr. Mahmoud Sahweil – Deputy CEO, United Global Insurance Company

• Mr. Anwar Al-Shanti – CEO, Trust International Insurance Company

• Mr. Riad Al-Atrash – General Manager, Takaful Palestine Insurance Company

• Mr. Ayman Al-Sabbah – General Manager, Al Ahlia Insurance Group

• Mr. Abdel Hakim Qasem – General Manager, Al Baraka Insurance Company

• Mr. Riad Nazzal – General Manager, Palestine Mortgage Insurance Company

• Mr. Ahmad Mashasha – General Manager, Holy Land Islamic Insurance Company

• Mr. Bashar Hussein – CEO, National Insurance Company

• Mr. Mohammad Al-Rimawi – General Manager, Tamkeen Insurance Company

In the same context, the newly formed Board of Directors held its first meeting today, Monday, during which Mr. Anwar Al-Shanti was unanimously elected as Chairman of the Union for the 2025–2026 term.

The Board also unanimously elected:

• Mr. Bashar Hussein as Vice Chairman

• Mr. Ayman Al-Sabbah as Secretary

• Mr. Mahmoud Sahweil as Treasurer

The meeting was presided over by Mr. Mohammad Al-Rimawi, the eldest member of the Board, in accordance with the Union's internal bylaws.

In his remarks, Mr. Anwar Al-Shanti expressed his gratitude to the Board members for their trust and support in electing him to lead the Union, emphasizing the importance of partnership and unity in advancing the insurance industry and addressing the challenges affecting the Palestinian national economy, particularly the insurance sector.

Mr. Al-Shanti affirmed that the Union will adopt a comprehensive approach rooted in collaboration with the Palestinian Capital Market Authority, the government, and key sectors such as finance, civil society, academia, and media, in order to strengthen the resilience and growth of the Palestinian economy.

Mr. Anwar Al-Shanti has served as Chief Executive Officer of Trust International Insurance Group – Palestine since 2010 and is a member of its Board of Directors.

A well-known figure in the insurance industry, Al-Shanti brings over three decades of experience. He was born in the city of Qalqilya in 1960 and earned a Bachelor of Science degree from the University of Jordan in 1985. He has also completed specialized insurance training through the Chartered Insurance Institute in the United Kingdom.

His professional journey includes leadership roles in various organizations, such as the General Arab Insurance Federation, and he serves on the boards of several companies.

Previously, he served as:

• Director General of the Palestinian Road Accident Victims Compensation Fund

• Regional Manager of Qatar General Insurance & Reinsurance Company in the UAE

• Assistant General Manager at Al Ahlia Insurance Group