Tabreed, the Middle East’s district cooling pioneer, has won the Middle East Insurance Forum’s Innovation Award for Tabreed Captive Insurance Company (TCIC) B.S.C. (closed) - its collaborative venture with Ensurion, a Bahrain-based captive insurance management specialist.
The award was received by Tabreed’s Chief Executive Officer, Dany Safi at a gala awards ceremony held in Bahrain.
Speaking on the occasion, Safi said: “This recognition by an industry body committed to rewarding excellence in the regional insurance industry underlines the significance of Tabreed’s path-breaking initiative, which ensures our investments and those of our customers are always safeguarded from any threat or risk.
“Tabreed has a history of innovation in the district cooling sector and setting up our own captive insurance company is the latest in a series of extra-ordinary achievements.”
The award is the second recognition for the company in 2007, following the prestigious Global Partner honour, from US-headquartered International District Energy Association - which works to advance global environmental quality through efficient district energy.
About Tabreed
Tabreed is a UAE public joint stock company established in June 1998 and is now one of the world’s largest district cooling utilities. Tabreed provides district cooling services throughout the GCC countries with offices in Dubai, Abu Dhabi, Ras Al Khaimah, Doha, Manama, Al Khobar, Muscat and Amman. The company has been growing at a very rapid pace and was awarded two gold awards in 2004 by the International District Energy Association in the USA for new customers by the number of buildings it serves and by the cooling load.
In 2006, Dany Safi won IDEA’s Unsung Hero accolade while in January 2007, Safi bagged IDEA’s Global Pioneer award while Tabreed scooped its Global Partner honour.
The company was assigned a BBB- rating with a stable outlook by Standard and Poor’s – the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data.
Tabreed pioneers energy efficient gas-fired and electric-powered district cooling solutions in the UAE and across the region. The company offers customers the highest quality service through an integrated energy system devised to help them optimize their energy usage and reduce power and maintenance costs. Tabreed is a member of the International District Energy Association (IDEA), Association of Energy Engineers (AEE), International Association for Energy Economics (IAEE), International Institute of Refrigeration (IIR), American Gas Cooling Centre, Inc. (AGCC) and the Dubai Quality Group.
