Several financial institutions and companies from both the private and the government sectors in the Arab countries have enforced the recommendation of the 5th General Arab Insurance Federation (GAIF) conference held in Kuwait in 1969, that is, the establishment of an Arab reinsurance company. The objective was to have a regional reinsurer supporting mainly Arab insurance companies, with an opening to non-Arab markets to ensure a steady growth. Many Arab countries have tried to host the company’s headquarter by granting financial and legal facilities, as well as tax exemptions. On 11/3/1972, Arab Reinsurance Company (S.A.L.) (Inter-Arab Company) was established in Beirut, with a capital amounting to two million Sterling Pounds; being the first of its kind in Lebanon.