demographics, globalisation to force major re-think for regional insurance industry
Demographic forces, globalisation, climate change and regulation will all have a significant impact on the immediate future of the Middle East insurance landscape, as industry leaders strategically plan for a period of major growth opportunities while watching out for possible threats.
The Middle East and the GCC in particular is being recognised as developing into one of the world’s most exciting growth centres for the insurance industry. The 4th Annual Middle East Insurance Forum, to be held on 8 and 9 May at the Gulf International Convention Centre in the Kingdom of Bahrain, will provide a high-profile opportunity for industry leaders to chart key paths towards this anticipated exciting growth in the regional market.
AIG MEMSA Insurance Company Ltd (AIG) President Charles Bouloux commented: “The growth of the Middle East economy presents many challenges to the insurance industry but out of these come great opportunities. Our industry’s ability to expand in this environment is only limited by our imagination and this is why I am confident of great advances for AIG in the immediate future.” AIG, the Platinum Partner of the 4th Annual Middle East Insurance Forum, is constantly evaluating local insurance needs and pioneering innovative new products and services to meet increasing demand.
Hugues de Roquette-Buisson, Managing Director - Africa, Middle East, of AGF/Allianz Group will deliver the keynote address at the opening session and his focus will be on the Trends and Challenges in the Insurance Industry Today. Roquette-Buisson said: “Demography, globalization, environment, new technologies, will have a major impact on the future of the insurance industry and the players will have to rethink their strategy accordingly. The most difficult challenge in the process will be to select from unlimited data, the major tendencies, and to formulate opportunities to move from trends to action”.
The Middle East Insurance Forum is all set to stage the Awards ceremony to recognise excellence and innovation in business development, strategic leadership, product innovation and successful market expansion & growth in the regional insurance industry.
The awards celebrate significant contributions to the industry and will be presented to organisations that have excelled in the following criteria: Significantly improving the scale and reach of their insurance operations in key regional markets or having launched innovative new products to meet demands in key segments of the regional market.
The Gala Dinner and Award Ceremony will take place on 8 May at the Bahrain International Circuit and is hosted by the Bahrain Financial Services Development Bureau of the Economic Development Board.