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Reinsurance conference on Palm Jumeirah.

Malakut insurance brokers with Emirates Insurance Association hosted recently the first Emirates Reinsurance Forum 2012 at the Atlantis, Palm Jumeirah

Bruno Bertucci, Non-Executive Board Director, UIB Gulf (DIFC) Ltd and Wayne Jones, Partner at Clyde and Co moderated the two-day event.

The event had the participation of experienced imminent speakers from the energy, power and construction, marine insurance and the reinsurance sectors. Orators from Arab Loss Adjusters (UAE), Al Madina Gulf Insurance Co (Oman), Trust Re (Bahrain), Lukoil Middle East, Clyde & Co, Zurich Insurance Co and Kuwait Re shared their views and perspectives related to the dynamics of the industry. Their combined experience brought into limelight the burning issues related to fraud, piracy and sanctions-especially related to the marine insurance industry. It also served as a platform to discuss the risks, which arose during construction and erection and suggested the way to assess them. Not only that, but there was a presentation on Iraq, which highlighted the opportunities for insurance from major oil and gas operator's perspective. Needless to say, the forum served as a great platform for networking before the reinsurance renewal season would begin.

The event was closed by a speech, which was delivered by Rinat Mustafin, CEO Malakut Insurance Brokers. He said, "We have been overwhelmed by the attendance of the delegates at the event. We had more than 100 people from 18 different countries participating at the event. It is much more than what we had expected. I would like to personally thank all the delegates, speakers and supporters who have made this event a huge success. The topics we discussed today were very thought provoking and current."

"We will very soon complete three years of operation in the Middle East and Africa and have enjoyed good growth in business volume. We have achieved more than our expectations. We participate in conferences and love organizing events such as this as they open doors to a lot of prospects. We started with three people and now we are seventeen of us, which further emphasizes on the robust growth of the company." - continued Mustafin.

He further added saying: "Though there have been a lot of challenges and stiff competition in the market, we have sailed smoothly. We are currently developing on corporate lines of business such as insurance in the marine, energy, construction and aviation sector. We will soon enter the health insurance sector as it seems to be a promising arena for 2013."

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Publication:CPI Financial
Article Type:Conference news
Date:Nov 19, 2012
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