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Commenting on David's appointment, Simon Cooper, Deputy Chairman and CEO of HSBC Bank Middle East said,
"Insurance is a strategic priority for the region and the HSBC Group. Here in the Middle East HSBC has a huge opportunity to become the largest distributor of insurance products across the region and David's appointment underlines our commitment to achieving this."
David adds, "The Middle East is a fast-growing market with the take-up of insurance products across the region growing significantly. We expect this trend to continue as more classes of insurance are made compulsory. Penetration levels for insurance products and per capital spend are well below the levels in developed markets".
Prior to taking up his new position David Hunt was the Managing Director of SABB Takaful Company, an Islamic insurance company in Saudi Arabia. SABB Takaful is a joint venture between the HSBC Group and SABB and is quoted on the Tadawul.
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Posted by Rima Ali Al Mashni
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