"Arig is opening a representative office in Tripoli after formally receiving the license from the local authorities to have company operations on the ground," Arig said in a statement.

The office will focus on Arig’s clients in Libya specifically in addition to complementing the company's existing business operations in the wake of recent development and growth in the market. It will also service nearby countries in the Maghreb. The office will be headed by Salah Al-Mabrouk, a Libyan national.

“We are going to Libya in recognition of our current and historically close ties to the market and our clients there," said Arig’s CEO Yassir Albaharna.

"Our relationships date back to the founding days of Arig. They have been tested and proven for 30 years and we intend to make our ties with the growing insurance industry even stronger. We believe we can still be better partners by moving to the doorstep of our clients," he added.

Arig is one of the largest Arab-owned, professional reinsurance providers in the Middle East and North Africa. Arig is listed on the stock exchanges in Bahrain, Dubai and Kuwait and offers a wide range of reinsurance products and services. Arig’s subsidiaries include Takaful Re (Dubai), Gulf Warranties (Bahrain) and ARIMA Insurance Software (Bahrain). Arig is also an equal partner in the joint venture Hardy Arig Insurance Management.