Winners of prestigious MEIF 2009 Insurance Awards recognised at gala ceremony

The MEIF Institutional Excellence Award 2009, went to Axa Insurance (Gulf) in recognition of their outstanding achievements and institutional excellence. Research conducted with industry leaders and advisers highlighted Axa's successful expansion in the Gulf as playing a key role in the advancement of the regional insurance market and has resulted in innovative new insurance products coming to market.

Yassir Albaharna, Chief Executive Officer, Arig was presented with the MEIF Insurance Leader of the Year Award 2009 in recognition of the role he has played in the regional insurance industry. Research conducted with industry leaders and advisers highlighted Mr. Albaharna's role as an influential CEO in the industry who has successfully grown Arig's market position and profitability.

More than 400 government and regional industry leaders attended the impressive inaugural ceremony which focused on the regional growth challenges in the light of the global financial crisis. Key messages were on the risks and opportunities; low insurance penetration level, the role of regulators in further strengthening this market, and the future outlook for industry growth. Other leading speakers addressed regional trends in key products and market segments as well as the role and opportunities for captives and technology innovations in this market.

The Bahrain Insurance Association also unveiled its new corporate identity as part of its re branding campaign.