The 13th Annual Middle East Insurance Forum (MEIF 2017), the region’s largest and longest running industry event, today announced Protection Insurance Services (PIS) as a Broker Partner of the flagship industry Forum taking place on the 20th and 21st February 2017 at the Gulf Hotel, Kingdom of Bahrain.
Held under the patronage of the Central Bank of Bahrain, MEIF has played a key role for more than a decade in shaping and driving the industry’s advancement. MEIF 2017 will focus on and explore “Current Challenges and their Implications on the Regional Insurance Industry – The Road Ahead” with the support and participation of various key industry players and sponsors including PIS.
Since inception, in 1996, PIS has earned a sound reputation for its high quality service and commitment, driven by a management philosophy of integrity, clarity and transparency. As part of a coherent approach to business development, PIS has been providing international specialized insurance, reinsurance (including Takaful and Re-Takaful) and advisory services to insurance/reinsurance companies and other corporate/commercial entities. As of 2015, PIS’s specialty reinsurance wing (Protection Re) provided comprehensive reinsurance services to over 500 clients across the MENA region, parts of Africa, the Indian Subcontinent, and Asia (Far East and South East Asia). PIS also seeks expansion by accessing the European and the CIS countries’ markets.
Mr. Osama Abdulaal, CEO of Protection Insurance Services, commented, “We are delighted to announce our cooperation again this year with MEIF. The Forum remains an important industry platform that not only keeps us aware of existing market challenges, but also helps us as insurance entities to cooperatively overcome them. We are especially pleased to support the event as it takes place in the Kingdom of Bahrain, which has proved to be an important regional insurance hub and home for innovation. We also look forward to gathering together with our regional and global peers to address areas of growth. The regional insurance markets are in a significant development phase. We have recognized that clients’ awareness has increased and they are more actively seeking solutions/products to hedge against their risk, which creates more room for opportunity for us and other reinsurers to innovate, diversify, and expand to meet growing demands.”
More than 400 global and regional insurance and Takaful leaders and experts are expected to attend the event with notable speakers to include Mr. Abdul Rahman Al Baker, Executive Director of Financial Institutions Supervision at the CBB, in addition to Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB) and Mr. Mark Cooper, General Representative Middle East and Director of Lloyd’s Limited, who will open the Forum.
Among the key topics to be addressed at the Forum by speakers and panelists are:
- Role of Regulation: Current Issues and Challenges
- Mergers & Acquisitions in the Insurance sector
- Introduction of VAT and its Implication in the Regional Markets
- The Role of Insurance Companies in Health Care Reform
- How Financial Technology is changing the Insurance Industry
- Challenges facing the Takaful Industry
Other highlights of the event include the presentation of the “2017 Insurance Report” by Ernst & Young and the awarding of the “Best Insurance Company in the MENA Region” honour at a ceremony to be held in recognition of extraordinary industry achievement by an insurance player servicing the GCC, MENA or Levant regions.
MEIF 2017 is being held with the support and cooperation of additional industry leaders including Braxtone Insurance Management as Lead Sponsor, Silver Sponsor Solidarity and Bronze Sponsors Ta’zur, SNIC and GIG. Importantly, the Forum programme has been developed with the support and technical knowledge and cooperation of the Bahrain Insurance Association (BIA).