Middle East Insurance and Reinsurance Summit 2009

The Middle East Insurance and Reinsurance Summit will be held at the Monarch Hotel in Dubai on 11-15 2009, exploring Middle East insurance market growth potential of up to 400 percent, through a full programme of speeches, panel sessions and workshops for encouraging open discussion between delegates and expert panelists and speakers.

Average insurance penetration in Middle East market stands at just 1.5 percent, although the region has grown quicker that any region in the world. The global average 7.1 percent penetration is five times great, indicating there is room for growth in the region. The same report also shows that the total insurance premiums in the Mid East and Central Asia grew 4.7 percent last year, compared to a global decline of 2.0 percent, further realizing the significant opportunities in the region.

Debo Ajayu, Summit Chairman said that he believe the insurance summit is a pivotal stage in the development of the Mid East insurance market. Debo Ajayu later said that local expertise in the summit that can be utilize by the global players, is a great opportunity to tap the latent potential of the insurance sector through product offerings that are relevant to the region and to meet the rising demand created by introduction of mandatory insurance and favorable demographics of the region.

The workshops will give delegates the opportunity to discuss issues in specific areas of the insurance market in the region. Sample of the topics are :

Exploring the potentional of Insurance

Financial Risk management : Improving Returns by managing Risk

Assesing Shariah Compliant Takaful Options, Benefits and Accesibility

The summit are under the patronage of His Highness Sheikh Hamdan Bin Muammad Al Maktum, Crown Prince of Dubai.