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The Summit will be opened with a keynote address by His Excellency Dr. Mohammed Al Jasser, Governor, SAMA and will feature timely speeches by, and panel discussions with, some of the industry's most eminent experts.
During the first two days, the focus will be on the issues currently facing insurance industry stakeholders in Saudi Arabia, including how regulatory issues have affected the industry in recent years, the entry of new players into the increasingly competitive marketplace, and how the sector will develop in the future.
"The summit will feature key contributions from over 25 high-profile international and regional organisations including Malath, Salama, AIG Alico, Tawuniya, Medgulf, Bupa Middle East, Standard & Poor's and many others,"said Barth de Ridder, Divisional Director - Conferences and Training, IIR Middle East.
"The Third Saudi Insurance Summit is set to become THE place for the sharing and exchange of information and ideas that will shape the future of this thriving industry. In the midst of uncertain times, the Summit will also help promote confidence, raise standards and help all attendees understand both the challenges and opportunities that lie ahead. The value of the Summit is further enhanced by the unparalleled direct access that delegates gain to key players in the Saudi insurance industry," Barth added.
The interactive panel discussions will encourage frank and open exchange between members of the panel, allowing delegates to benefit from invaluable insights and the benefit of the featured speakers' expertise.
They will cover topics such as the effects of the global financial crisis on the worldwide insurance market, the formation of a competitive Saudi insurance industry and if it is affected by the current economic conditions, corporate risk and internal insurance management, what the health of the Saudi health insurance market is and a review of the regional and local reinsurance and Takaful landscape amid a changing environment.
Dr. Saleh J. Malaikah, Chairman, Salama added, "With enormous untapped potential, the insurance market in Saudi Arabia continues to flourish and is poised for impressive growth in the coming years. Recent studies have shown that the KSA market for Sharia-compliment insurance will be worth $4bn in 2010, and forecast that the Islamic insurance (Takaful) market will grow five-fold over the next 10 years."
"The Third Saudi Insurance Summit will provide timely opportunity for reflection, discussion and decision-making — helping all attending to take the insurance market forward in challenging but opportunity-filled times," he added.
Posted by Rana Mesbah
