No Guarantees, Only Grit: Leading Through Lebanon’s Relentless Uncertainty

Alexandre Abraham Matossian, Chairman and CEO of Al Mashrek Insurance and
Reinsurance, brings decades of experience leading a business in one of the region’s most
volatile environments.

At the helm of the company, which has operated in Lebanon since 1962, Matossian has navigated multiple periods of instability, well before the latest conflict, positioning him as a seasoned voice on resilience and continuity in times of crisis.

“Operating in Lebanon teaches you to function without guarantees: only preparedness,
adaptability, and persistence,” says Matossian.

“Running a business in Lebanon has always required resilience, but the current situation
amplifies every challenge. There is a constant tension between responsibility toward
clients, employees, and one’s own safety and family.

“Emotionally, it is a mix of fatigue, uncertainty, and determination. There are moments of
doubt, but also a strong sense of purpose, especially in insurance, where your role
becomes critical in times of crisis.”

Matossian says his insurance business in Lebanon has long operated in an environment
shaped by economic collapse, currency devaluation, and declining purchasing power.

“Growth has been modest and largely defensive rather than expansion-driven,” he
explains. “The sector itself has been under significant strain, with reduced policy uptake,
increased claims volatility, and limited access to reinsurance markets. Still, demand for
essential coverage remained relatively stable, acting as a lifeline for continuity.”

However, since the onset of the latest conflict, operations have shifted into survival mode.
“One immediate and severe impact has been the disruption of client servicing and claims
processing,” Matossian explains. “For example, during a period of intense escalation,
several clients were unable to access hospitals within their insurance networks due to road
closures and safety risks. Simultaneously, communication lines were inconsistent, delaying
approvals and emergency responses.

“Additionally, we experienced a temporary shutdown of our physical office due to safety
concerns in the surrounding area, forcing an abrupt transition to remote work under less-
than-ideal conditions.”

To mitigate the impact, Matossian shifted the business to remote operations, decentralized
decision-making, and prioritized critical client needs. And looking ahead, his outlook
remains cautious. “The immediate future is unpredictable, and long-term planning feels
almost theoretical,” Matossian concludes. “However, businesses that survive this period
will likely emerge more adaptive, more efficient, and more deeply connected to their
communities.”

Resilient Growth Playbook
Alexandre Abraham Matossian shares key advice for withstanding constant disruption in
Lebanon.

Build Redundancy Early “Do not rely on a single office, supplier, or system. Diversify
operations so your business can function under disruption.”

Prioritize Cash Flow Over Growth “Liquidity is survival. Focus on sustaining operations
rather than expansion during uncertain times.”

Invest in Relationships “Strong ties with clients, suppliers, and employees become your
most valuable asset during crises.”

Stay Agile “Conditions change rapidly, your decisions must be quick and adaptable rather
than perfect.”

Take Care of Your Team “Your employees are also under stress; supporting them directly
impacts your business continuity.”