Date

27th and 28th March 2019

Location

Crown Plaza RDC, Riyadh

Last Year's Attendance

1000

Last Year's Sponsors

7

About 5th Saudi Insurance Symposium

The Saudi Insurance Symposium (SIS) is one of the largest forum for the insurance companies across Middle East. Since the first version in February 2011, the symposium has adopted a number of policies that have had a positive impact on the insurance industry in Saudi Arabia.

The Saudi Insurance Symposium organized periodically every two years to shed a light on the insurance sector’s role in developing the national economy and providing solutions to the most important challenges facing this sector in Saudi Arabia. SIS works to set clear plans to address these challenges and to formulate a new vision for the insurance sector’s future and its effects on the overall economic development.

The 5th Saudi Insurance Symposium will be held on 27-28th March, 2019 under the theme: “Protection and Sustainability”. The fifth version of SIS will attract more than 1,000 insurance specialist, local officials, international managers and executives to discuss for two days, the role of insurance sector within Saudi Arabia’s economic development in light of the many new policies and regulations issued by SAMA recently.

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* Be the early bird and register for 1500SR (Until 10th March).
* Normal registration is 2000SR (11th of March until Event Date).

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Symposium Program



Day/Time Topic Moderator Speaker
First Day
8:00 AM Registration
9:00 AM Welcoming - Holy Quran Recital
9:05 AM Official Opening H.E. Dr. Ahmed Al Kholifey - Governor of the Saudi Arabian Monetary Authority
9:20 AM Welcoming Speech - Insurance General Committee Mr. Abdulaziz Al Sedeas - CEO of Al Rajhi Takaful Ins. Co. and Chairman of Insurance General Committee
9:30 AM Insurance Executive Committee speech Mr. Basem Odeh - CEO of Arabian Sheild Ins. Co. and Chairman of Insurance Executive Committee
9:40 AM Honoring participants of "The Lloyd’s Market Saudi Insurance Professionals Development Program" H.E. Dr. Ahmed Al Kholifey - Governor of the Saudi Arabian Monetary Authority
9:50 AM Coffee Break
10:00 AM 1st Session: The Impact of foreign Insurance Companies Entry to the Market
60 Minutes Panel Discussion Hussam Al Kannas - CEO of Al-Etihad Insurance Co. and Chairman of PCR Subcommittee 1- Dr. Fahad Al-Shathri - Deputy SAMA Governor for Supervision
2- Mr. Ebrahim Obaid Al Zaabi - Director General of UAE Insurance Authority
3- Mr. Hedi Hachicha - CEO SCOR Re MENA
4- Mr. Fadi Arbid - Founder of Amwal Alkhaleej
11:00 AM 2nd Session: Insurance Role in Savings
10 Minutes Presentation
50 Minutes Panel Discussion Abdulrahman Al Obrah - CEO of Al Ahli Takaful and Chairman of P&S Subcommitte 1- Mr. Abdullah Al Towaijri - General Director of Insurance Control Department in SAMA
2- Mr. Abdullah Bin Ghannam - CMA Deputy, Listed Companies & Investment Products
3- Dr. Mazen Abouchakra - Managing Director MENA & Cyprus - Gen Re
4- Mr. Naif Al-Mesned - Mangaing Director, Head of Wealth Management at NCB Capital
12:00 PM Prayer/Coffee Break
12:30 PM 3rd Session: Role of Actuaries in the fast changing insurance industry
10 Minutes Presentation
50 Minutes Panel Discussion Mr. Johnson Varughese - CEO of Walaa Insurance Co. 1- Mr. Sarwar Grami - Actuary in SAMA
2- Mr. Ahmed Al Qureshi - Chief Risk Officer & Chief Actuary in Saudi R
3- Mr. Safder Jaffer - Managing Director & Consulting Actuary Middle East in Milliman
1:30 PM 4th Session: Saudi Reinsurance Market – Opportunities & Challenges
60 Minutes Panel Discussion Fahad Al Hesni - CEO of Saudi Re 1- Mr. Dawoud Al Duwaisan - CEO for Kuwait Re.
2- Mr. Mark Cooper- Lloyds General Representative Middle East
3- Mr. Naji Al Tamimi- Regional CEO, Aon Saudi Arabia and Bahrain.
2:30 PM Lunch, End of Day 1

Symposium Accommodation Rates

To make things easier, and save you the headache of finiding a place to stay, the below hotels are now providing special rates for accommodation to the attendees of the 5th Saudi Insurance Symposium.

To get the special rates, please click on the desired hotel below to access the reservation link.



Sponsors

News

SAMA Governor Sponsors 5th Saudi Insurance Symposium
Over 1,000 delegates from the local and international insurance sector to attend

Under the patronage of Dr. Ahmed Abdulkarim Alkholifey, Governor of the Saudi Arabian Monetary Authority (SAMA), the General Committee of Insurance Companies is organizing the 5th Saudi Insurance Symposium (SIC).

Held under the theme "Insurance: Protection and Sustainability," the event will be held at the Crown Plaza RDC in Riyadh on March 27-28, 2019. Building on the success achieved over the four previous symposiums, more than 1,000 specialists and insurance executives, as well as top administrators and executives from local and international organizations are expected to attend.

Saudi Insurance Symposium is the largest gathering for Saudi insurance companies and the wider GCC region. Held on a biennial basis, the event aims to promote the economic role the insurance sector plays in economic development and offering solutions to pressing challenges facing the industry.

This year’s event includes discussions related to critical issues such as the impact of foreign insurance companies entering the market, as well as the role of insurance companies in supporting small- and mid-sized enterprises (SMEs). In addition, issues related to society such as the role of insurance to enhance the savings culture and auto insurance for women will also be discussed.

The 5th Saudi Insurance Symposium will also build on the positive impact that Saudi Vision 2030 and the subsequent economic reforms and actions undertaken have had on the Saudi insurance sector. Officials from leading local and regional insurance and reinsurance companies will discuss the economic role of the insurance sector within Saudi Arabia’s economic development in light of the many new policies and regulations issued by SAMA over the last two years.

Speaking about the event, Mr. Adel Al-Eisa, media spokesperson for the insurance companies, said, "The 5th Saudi Insurance Symposium comes at a time in which there is strong public awareness of the importance of the role played by the Saudi insurance sector with regards to the economic transformation the Kingdom is currently undergoing."

Al-Eisa went on to point out that the sector boasts promising growth opportunities that will come to fruition with more concerted efforts and increased public-private partnerships. For example, there have been notable improvements in the sector in terms of private contribution to the Saudi economy, a rise in awareness of insurance services, and implementation of the policies and regulations issued by SAMA.

“We are confident that the symposium will feature plenty of dynamic discussions that will further enrich the experience of the insurance industry, a cornerstone of any successful, sophisticated economy, and we look forward to the sector’s continuing success,” Al-Eisa concluded.

Experts and stakeholders are looking to solve the challenges of the sector and put solutions on the insurance seminar platform
Al-Eisa to Riyadh: 1.42% drop in insurance output locally

Adel Al-Eisa, Chairman of the Committee for Information and Awareness of Insurance and Media Spokesperson for the sector, revealed that one of the most important challenges facing the insurance sector in the Kingdom is the decline in its contribution to GDP, which recorded 1.42% in 2017.

Al-Eisa stressed in his speech to Al-Riyadh that raising its contribution to GDP is linked primarily to the development of the insurance sector and to raising the competitiveness of insurance companies by spreading awareness of the importance of insurance and diversification in products and focusing on small and medium enterprises. A culture of planning and hedging, in light of the growing growth of the business sector and the population, which will enhance the capacities of the local reinsurance sector and support it to reach regional and international markets, with the aim of adding value to the national economy.

In addition to the challenges related to increasing the interest in training and qualifying citizens to fill the technical and leadership positions in the insurance sector and the development of educational and training programs to address the problem of occupational exposure through the development of infrastructure, operational and technical for the insurance sector and investment in the human element and the use of technology to improve the services provided to customers.

"The Saudi insurance seminar, which is due to start at the end of next March, will be held at the end of next March," said Al Issa. "The conference will enrich the experience of Saudi Arabia's promising insurance sector with opportunities and opportunities to keep pace with the national transition plan. The experts and interested parties are looking at this seminar as a platform for enriching dialogue and offering solutions to address the challenges facing the sector and an opportunity to strengthen the partnership between the public and private sectors to support the national insurance process and increase its contribution to GDP.

He added: The Saudi insurance symposium, which is sponsored by Dr. Ahmed Abd Al-Kareem Al-Khulaifi, Governor of the Saudi Arabian Monetary Agency (SAMA), is the largest forum for companies operating in the Saudi insurance sector and one of the largest insurance forums in the Arab world. This year's organization is in line with the vision of the Kingdom 2030 and its subsequent economic reforms and measures will be positively reflected on the insurance sector. , Which will be attended by officials from the major insurance companies and reinsurance local, regional and international to discuss the economic role of the insurance sector in pushing the march of economic development, in conjunction with the issuance of several new regulations and regulations for the Study of the Saudi Arabian Monetary during the last period.

Al-Eisa pointed out that the seminar is organized every two years to stimulate the economic role of the insurance sector in advancing economic development and providing solutions to the most important challenges facing the sector. Which is expected to create opportunities for the sector to grow and expand, through concerted efforts and upgrading the level of companies between the government and private sector, especially as the sector is witnessing a remarkable improvement in terms of enhancing the contribution of the private sector to a larger proportion of the economy Saudi Arabia, raising awareness of insurance services and how to implement the decisions of the Saudi Arabian Monetary Agency. We are confident that the seminar will include discussions that will enrich the experience of the insurance sector, which is full of potentials and opportunities.

Al-Eisa explained that the agenda of the symposium will discuss several vital issues in the insurance sector such as securing the future of health insurance and the impact of the entry of branches of foreign insurance companies to the market. The seminar will also discuss issues related to the role of insurance companies in supporting small and medium enterprises, digital transformation in the insurance sector, Such as the role of insurance in protection and savings. He added: "We believe that these meetings and specialized seminars are a platform of quality education and is able through serious discussions to find a number of active recommendations, which enable the development of the sector, and in view of the recommendations of the symposium in its fourth version, it was able through constructive dialogue between those interested in the insurance sector, A series of realistic solutions, including the challenges of technical transformation of insurance companies, the need to develop the technical infrastructure to provide more quality and competitive services, in addition to recommendations related to work to increase the contribution of insurance in the GDP of the Kingdom. To activate compulsory insurance and seek to increase the percentage of insured vehicles to the total vehicles in the Kingdom through the development of mandatory insurance mechanism in cooperation with the relevant government agencies, and other important recommendations.

"These meetings play an important role in demonstrating the growth and diversity of companies in the market, including health insurance, vehicle insurance, property insurance, protection and savings, which have made the sector enjoy specialization and inclusiveness," he said. Through the provision of a variety of services according to the needs of the market, which is conducive to enhancing the level of partnership between the two sectors, and also between the various insurance sectors and their beneficiaries, and in the same context, these companies have an important consultative role in supporting the development of legislation and consultations governing the sector, Asha on the satisfaction of the beneficiaries of the insurance sector, I can not fail here to pay tribute to the outstanding role played by the regulatory authorities in the Saudi market, such as the Saudi Arabian Monetary Agency and the Cooperative Health Insurance Council in the development of legislation that had a role in improving the quality of services provided by the insurance sector that level. »

On the same level, Al-Eisa pointed out that the Committee for Insurance Information and Awareness was established by the Executive Committee of Insurance Companies under the supervision of the Saudi Arabian Monetary Agency (SAMA), to be one of the links between the insurance sector, legislators, regulators, community members and the media. All sectors of society through the media and social networking platforms, to achieve greater clarity and transparency, and to preserve the rights of policyholders and beneficiaries of insurance coverage.

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