Amman, December 2024 – Middle East Insurance Company (MEICO) is announcing the retirement of its CEO, Dr. Rajai Sweis, effective January 1, 2025 as per his decision. After an exceptional career spanning over three decades, Dr. Sweis has decided to retire, leaving behind a legacy of remarkable achievements that solidified the company’s position as one of Jordan’s leading insurance providers.

In 1992, Dr. Sweis joined MEICO as the Executive General Manager and later became CEO, a role he held until the end of 2024. He also served as an active member of the Board of Directors for 25 years. Under his strategic vision and leadership, the company has achieved sustainable growth and significant milestones, establishing itself as a top player in the Jordanian insurance market. During his tenure, the company’s capital grew tenfold through internal financing, shareholders’ equity increased fifteenfold and cash dividends distributed over the years amounted to multiples of the company’s capital.

Dr. Sweis was deeply committed to developing the company’s human capital, building a team of elite insurance experts recognized across the region. The company also became a market leader in Jordan in Marine Cargo & Hull, Engineering, Bankers Blanket, and Liability insurances, as well as offering innovative solutions to meet the unique needs of its clients. Throughout its 62-year history, and particularly during Dr. Sweis’s leadership, MEICO has maintained an unblemished record with no financial losses since its founding.

Commenting on the announcement, the Chairman of the Board Mr. Zeid Kawar said:
“Dr. Rajai’s legacy at MEICO will forever stand as a testament to excellence and dedication. His vision and leadership positioned the company at the forefront of the market. We are deeply grateful for his remarkable contributions and wish him continued health and success.”

Dr. Sweis expressed his gratitude, saying: “This company has been my second home. I extend my heartfelt thanks to all the Board members whom I had the privilege to work with throughout the years. Their insightful guidance and unwavering support were most important in taking the company to its present advanced position. I also thank the executive managers whose cooperation and dedication played a pivotal role in the company’s success.”

The company’s Board of Directors has decided to transfer all CEO responsibilities, effective January 1, 2025, to the General Manager, Eng. Majed Smairat, who will continue steering the company toward further achievements and innovation. Eng. Smairat joined MEICO in 1994, rising through the ranks to become General Manager in 2015, a position he has held with distinction.

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