PR OFILE
This selfless decision to support his family
was prompted by personal experience. Born in the small Palestinian town of Barbara in 1946, Abu Nahl’s family were forced out of his home village when it was captured by Israel during the 1948 Arab–Israeli War. Israeli forces destroyed the village to
discourage its 2,000 inhabitants from returning. Abu Nahl’s family fled to Gaza— an incident that, while he was too young to remember, has encouraged him to act with compassion and patience in business, and inspired his philanthropic efforts. Fast forward almost six decades
and Ghazi Abu Nahl has built three multi-million dollar companies, pioneering and advocating for the insurance market in the Middle East at a time when it was seen as an un-Islamic form of gambling. A man who chooses his words carefully,
talking about his loved ones is the closest he comes to gushing. He credits the support of his wife, Hind Ali Tabaja, as one of the main reasons for his success. And when he does talk about his family, there is plenty of material, as one of 12 siblings, with five children of his own, and seven grandchildren. How then did a 17-year-old refugee create
the second-generation conglomerate, Nest Investments, spread across six sectors and 23 countries? “It was a basic life in Qatar, and really, it
was mainly work. [The business] grew with the growth of the economy. We trained our people and expanded into the other Gulf States,” Abu Nahl says. “At that time, the population was limited,
and people were not aware of insurance as such. Only foreigners were involved with insurance. It was only for the British expatriates, and so we were the only company speaking Arabic and dealing with the local people.” Insurance was largely unpopular at this
time as it was seen as akin to gambling. “Insurance, in the early times, [was] not
acceptable. But after a while they started to understand that insurance is a protection to families, to businesses… and it is very useful,” Abu Nahl says. “It was hard, but you had to challenge it. You had to convince people of the
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advantages. [Insurance is] actually standing with your client at a time when he is suffering a big loss, and it is a pleasure.” As part of the effort to boost the
reputation of the industry, Abu Nahl met the Emir of Qatar, then His Excellency Ahmad bin Ali Al Thani, to speak to him about why motor insurance was ethical, necessary, and of benefit to the government. “It was at that time not obligatory to have
motor insurance,” Abu Nahl says. “It was really for the government’s benefit, but I am the person who had the initiative to meet with the authorities. Life at that time was very simple and it was very easy to access the Emir and the high court.” Fuelled by the meeting and other
lobbying, the Qatari government brought in compulsory motor insurance in 1967, creating more activity for the industry. So in 1979, Abu Nahl was well-placed to set up his first business from scratch, Qatar General Insurance & Reinsurance Company, which still exists today, turning over 638 million Qatari Riyal ($175 million), in 2016. Abu Nahl remains the group chief executive. Dr Abdul Khalik Raouf Khalil, secretary
general of the General Arab Insurance Federation, describes Abu Nahl as having “remarkable finger-prints in the insurance and reinsurance industry”. He said Abu Nahl’s businesses “blend
some of the best technical and managerial Arab expertise with high levels of professionalism and adherence to high standards”. On a personal level, he describes him as
“someone who has never hesitated in lending a helping hand whenever he felt needed”.
I nsurance, in the ear ly t imes, [was] not acceptable. But after a whi le they star ted to understand that insurance is a protect ion to fami l ies, to businesses…
ISSUE 72 | 2018
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