A New Initiative for the MENA Insurance Industry

Leaders of the region have banded together to set up an independent Mena Insurance CEO Club with the mission to be an exclusive body to serve as a think-tank to shape and spearhead the future development of the insurance industry. The Club aims to fill the knowledge and resource gaps in the region and offer a serious networking platform to exchange ideas and share topics of concerns while finding active solutions. Over time, the Club will evolve to lead the industry regionally and become the voice of the Middle East insurance markets in the international arena.

The Club involves leaders who will readily volunteer their time and expertise to enable the industry to become more professional and embrace higher standards of business operations, ethics and customer service. 

The Steering Committee of the Club comprises Dr Bassel Hindawi, Chairman/CEO, DIFC Insurance Association, Mr Yassir Albaharna, CEO of Arig and Mr Sivam Subramaniam, Editor-in-Chief of Middle East Insurance Review, which will provide the secretariat service to the Club.

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      Takaful has established a strong foothold in Bahrain's insurance market with its share growing from a marginal 3% in 2001 to around a quarter (23%) in 2015, says the international professional services company, EY, in a report entitled "'Insurance Opportunities in the Middle East".

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      A government scheme, which aims to promote insurance specifically among motorcyclists, is gathering pace as thousands of insurance policies were sold in a month, the director of Personal Injury Indemnity Fund (PIIF) said.

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