Marc Abi Aad

Group Corporate Development at Nasco Insurance Group

Wrong Marc Aad?

Last Updated 4/26/2017

General Information

Employment History

Head of Finance  - Credit Agricole Assurance S.A. / Bancassurance s.a.l.

Manager for Group Corporate Development At NASCO. “The Acquisition  - Al Ittihad al-Watani

Head of Finance  - BANCASSURANCE

Manager for Group Corporate Development  - North American Society for Childhood Onset Schizophrenia

Web References  

http://www.executive-magazine.com/special-report/insurance/a-desperate-chase-for-consolidation

Instead, the move was driven by the potential that NASCO saw for boosting business in the United Arab Emirates, confirms Marc Abi Aad, manager for group corporate development at NASCO.
"The acquisition of Al Ittihad al-Watani in Lebanon, which has a branch in the UAE, will enable us to consolidate NASCO's existing book of business in the UAE at the level of this new vehicle. Instead of fronting it with two third parties, [we can] now capture the whole profitability of the portfolio by underwriting profits in the UAE instead of earning commissions on these premiums. That is one of the main motivations and [an important] driver behind the acquisition," he tells Executive (see story).

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http://www.executive-magazine.com/special-report/insurance/more-acquisition-than-merger

According to Marc Abi Aad, the Beirut-based manager of group corporate development at NASCO Insurance Group, the process of due diligence was lengthy, but this was because of the complexity of the transaction rather than other factors.
He said the duration of negotiations was not caused by diverging views on the purchase price, which he declared to have been fair to all parties, but the amount of which he was not authorized to disclose to Executive.

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Executive Magazine

According to Marc Abi Aad, the Beirut-based manager of group corporate development at NASCO Insurance Group, the process of due diligence was lengthy, but this was because of the complexity of the transaction rather than other factors.
He said the duration of negotiations was not caused by diverging views on the purchase price, which he declared to have been fair to all parties, but the amount of which he was not authorized to disclose to Executive. “The due diligence was a complex process of analyzing the company; it was purely a technical challenge. Instead, the move was driven by the potential that NASCO saw for boosting business in the United Arab Emirates, confirms Marc Abi Aad, manager for group corporate development at NASCO. “The acquisition of Al Ittihad al-Watani in Lebanon, which has a branch in the UAE, will enable us to consolidate NASCO’s existing book of business in the UAE at the level of this new vehicle. Instead of fronting it with two third parties, [we can] now capture the whole profitability of the portfolio by underwriting profits in the UAE instead of earning commissions on these premiums. That is one of the main motivations and [an important] driver behind the acquisition,� he tells Executive (see story).

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