Arab Re supports the FAIR Reinsurance Forum
The Chairman of Arab Reinsurance Company, Sheikh Khaldoun Barakat, made the opening speech in the Afro-Asian “FAIR” Reinsurance Forum held on 18-19 September 2018 in Beirut. He welcomed the participants and expressed his hopes that the forum would achieve its goals. He called for a better cooperation among Afro-Asian companies for their mutual interest and then called for new regulations that would help companies improve their performance and strengthen their capabilities to compete.
Moreover, Mr. Hussein Mallouk, Deputy General Manager of Arab Reinsurance Company, confirmed the importance of the conferences organized by the General Arab Insurance Federation as well as the Federation of Afro-Asian Insurers and Reinsurers “FAIR” of which Arab Re is a member in order to share best practices, market business services and find solutions for the sector. He said: “we answered the request of the Federation to support the organization of the forum with all the needed logistical infrastructure in order to uphold the role of the Company through a professional dedicated team. Arab Re also offered a gala dinner honoring the members and the board of FAIR and it was attended by political, economic, financial and legal professionals.
The lectures given during the forum addressed the current situation in the Arab and international insurance markets and the following topics were addressed: the future of reinsurance markets, opportunities and trends, the electronic risks and the vision of insurers about financial solvency regulations. In fact, the participants discussed the challenges of the insurance industry and the low levels of pricing. They also shared insights about the insurance of electronic risks bearing in mind that technology became the main engine driving our daily lives.
Furthermore, the health reinsurance actuary Ms. Rita Antonios who is A senior underwriter at Arab Reinsurance Company gave a lecture about the financial solvency regulations applying to insurance companies in the Arab countries and the inevitable trend toward risk-based solvency regulations. She was appreciated by the audience.