A conclave of ideas

“I have been attending GAIF since 1998, and this meet is one the most important events for the insurance industry in the Middle East and North Africa region. The industry is going through difficult times at the moment, and as industry stakeholders, we need to interact with each other to find viable solutions. For example in 2013, one of the biggest discussions we have had is harmony of regulations between countries. We have to create an environment that is compatible for all insurance companies to operate within different countries in the Middle East. This is one theme that I would be looking forward to being discussed.”

- Farid Chedid Chairman & CEO, Chedid Re

“GAIF is a regional marquee event that encapsulates a cross-fertilisation of ideas, viewpoints and common challenges confronting the insurance industry with a focus on MENA. Having attended the previous conclave in Marrakech, I have fond recollections of the professional associations made, existing relationships fortified and a sense of optimism for the future as shared by the peer group. A major area of interest is alternate capacity, which could pose a direct challenge to traditional reinsurance. This is a sunrise area, which has a potential to dominate the region as conventional capacity becomes restricted due to severe exposure imbalances. Worth viewing through the lens of opportunity…”

- Krishnamurti Prabhakar Asst. CEO, Life, Medical and Reinsurance Dept

Ghazal Insurance Company

“Congratulations to GAIF on its thirtieth general conference in Sharm El Sheikh, Egypt. This anniversary comes round in challenging times with most Arab countries struggling to address the outcome of the Arab Spring uprisings that swept through the region. The Arab insurance market is more than ever in need of serious efforts to consolidate, and work collectively to mitigate the current and future risks that face the industry given the diverse demographic, social and economic changes taking place from the Atlantic Ocean to the Gulf waters. I therefore expect GAIF this year to focus on changing industry mindsets to respond to the needs of the fast evolving Arab economies.”

- Amer Daya CEO, Al Hilal Takaful

“GAIF conferences have always been the primordial gathering of the Arab insurance industry. Hannover Re always finds GAIF to be a great opportunity for us to meet with our partners across the region in a convivial atmosphere. It gives participants a chance to get to know each other better and to cement existing relationships and cultivate new ones. We look forward to the next gathering in Egypt in September 2014.”

- Mahomed Akoob Managing Director, Hannover Re, Bahrain

The General Arab Insurance Federation meet to be held in Egypt in September enjoys the interest of the insurance fraternity every two years. Premium finds out the opinions of some of the attendees.

A a premier networking event, the General Arab Insurance Federation brings together industry professionals from all over the world to share

experiences, receive updates on the insurance and reinsurance sectors, and make the most

of useful information on various topics relevant to this business. Every two years, this event features discussions, and a linking of

ideas that serve to better the industry and bring forth viable solutions. This year’s conference coincides with the golden jubilee of GAIF and this year’s theme is ‘Launch Strategy to the Arab Insurance Industry’. Premium spoke to some of the attendees at the event to find out their expectations and opinions of the event.

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