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Finance & Banking | Global Arab Network
MEIF 2010: Defining the next phase of insurance market development
Global Arab Network - Middle East Global Advisors
MEIF_2010_Defining_the_next_phase_of_insurance_markets_development
The 6th Annual Middle East Insurance Forum (MEIF 2010) will be held in Bahrain on the 7th and 8th of February 2010 under a timely theme that reflects the new economic realities that the industry is facing. The conference, which is now in its 6th year as the region’s most influential gathering for insurance industry leaders, is held in strategic partnership with the Central Bank of Bahrain and with the support of the Bahrain Insurance Association. 

Speaking ahead of the conference, David McLean, the Managing Director of MEIF organisers, MEGA, said:
“As cautious optimism begins to return to the global economy and financial markets move towards stabilisation and economic recovery, there is no doubt that the Middle East insurance markets continue to offer huge potential for growth. Recent growth levels have only scratched the surface of the potential in the Middle East insurance industry – but the new economic realities also bring a series of challenges that industry players must now tackle.  MEIF 2010 will bring together more than 400 delegates representing decision-makers from Arab and international insurance and reinsurance companies, regulatory agencies, brokers, and banking & finance organisations, to participate in the region's largest and most significant annual platform. Industry leaders will engage in "back to basics" debates that will meaningfully shape the future trajectory of the industry in the region.” 

The opening keynote plenary session will feature a regulatory perspective by Mr Rasheed M. Al Maraj, the Governor of the Central Bank of Bahrain, who will speak on strengthening industry foundations.

Insights into renewed business strategies for the leading insurance and reinsurance players will be presented by regional and international industry leaders at MEIF 2010. Ashraf Bseisu, chairman of Bahrain Insurance Association and president of the General Arab Insurance Federation (GAIF)  will offer insights on how to “navigate to safe harbour” for the Arab Insurance Market; while Robert Peilow, managing director of strategic account solutions middle east at Willis Limited will provide a broker and client point-of-view on the way forward. André Arrago, chairman of Hannover ReTakaful and Jean-Louis Laurent Josi, chief executive officer for the Gulf & Middle East at AXA Insurance (Gulf) B.S.C will both give their perspectives on lessons learned from the crisis.

Jonathan Wilton, the chief executive officer of ACR ReTakaful MEA B.S.C. and a speaker at MEIF 2010, commented on the challenges ahead for the regional insurance industry:

“MEIF 2010, focusing on “Back to Basics”, comes at a fascinating time for our region and our industry. Seldom have the challenges been as pressing and the potential rewards so great. Whether we are here as members of the conventional insurance world, or as representatives of the burgeoning Takaful and ReTakaful Industry, we face a combination of low returns on investment coupled with highly competitive risk rating the like of which has seldom been seen in our working lives. For the weak and the uncertain, these are dangerous times indeed. For the focused professional, the opportunity is one of enormous potential for growth”.

MEIF 2010 has attracted the support of leading insurance institutions and an international panel of expert speakers who will tackle the challenge of plotting the path to sustainable growth in the regional insurance market. Key topics that will be addressed include product development and underwriting trends in the Middle East: Assessing the potential for recovery & growth in key products and market segments; Beyond the crisis – towards stronger reinsurance capabilities in the Middle East; Optimising asset / liability management in a turbulent environment; Assessing growth prospects in key Middle East insurance markets; and Defining the role & opportunity for captives in the Middle East insurance market.

Ahmed D. Alumran, Executive Director of Ensurion, a Bahrain-based insurance management firm licensed and regulated by the Central Bank of Bahrain, will be leading discussions on Captive Insurance Strategies at the 6th Annual Middle East Insurance Forum (MEIF 2010).

With the regional insurance market entering a new phase of exciting development, risk management approaches have become more sophisticated and leading institutions are now looking for innovative options when making risk financing decisions.

Ahmed D. Alumran Executive Director Ensurion said "The growth trends in captive insurance remain positive as more companies look for innovative solutions to risk financing, and as the provider of the most innovative insurance and risk management solutions in these areas, we are looking forward to sharing with you our experiences at MEIF 2010. This is our third year to partner with the annual Middle East Insurance Forum and we see the event as an exceptional platform for practical exchanges."

Discussions during this session will explore the nature, role and potential benefits of Captive Insurance as well as assess the role for Captive Insurance in the Middle East market. A client case study will also offer a fresh look at captives as an investment opportunity.

The 6th Annual Middle East Insurance Forum (MEIF 2010) is the region's largest and most influential annual platform for the international and regional insurance industry and will feature stimulating discussions that will assess the potential and pinpoint new growth opportunities.

More than 400 leaders in the international insurance industry are expected to attend the 6th Annual Middle East Insurance Forum.

For more information click HERE

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