A record number of more than 700 senior insurance and reinsurance executives operating in the Middle East and Northern Africa (MENA) attend the conference and debate the current trends and developments in the marketplace. The two-day conference, co-hosted by the Qatar Central Bank and the Qatar Financial Centre (QFC) Authority, features a keynote address by Qatar Central Bank Governor HE Sheikh Abdulla bin Saud Al Thani. Chief Executive Officer and Board Member of the QFC Authority, Shashank Srivastava, said:
The insurance and reinsurance industry is vital for the rapid progression and diversification of Qatar’s and the wider MENA region’s economy. Now in its ninth year, MultaQa Qatar has become the region’s flagship conference for the risk and insurance industry, attracting delegates from more than 30 countries. Once again, at this year’s event, there will be an impressive line-up of international and regional speakers from the industry and the public sector.’
Inga Beale, Chief Executive Officer of Lloyd’s, Karel van Hulle, Associate Professor at the Faculty of Economics and Business at the University of Ku Leuven and Former Head of the Insurance and Pension Unit of the European Commission as well as Giles Ward, Regional President, ACE Eurasia & Africa, along with many distinguished panellists from the industry, will address the delegates.
Established in 2005, the QFC is an onshore centre that provides a platform for domestic, regional and international growth. It consists of the QFC Authority, the QFC Regulatory Authority, the Civil and Commercial Court (First Instance and Appellate Divisions) and the Regulatory Tribunal. The QFC Authority is the commercial and strategic arm of the QFC. It develops and ensures compliance with QFC regulations, administers key QFC office functions and deals with applications from non-regulated organisations.
On the occasion of MultaQa Qatar, the QFC Authority also launched the 3rd MENA Insurance Barometer, an annual survey based on in-depth interviews with senior executives of regional and international (re)insurance companies and intermediaries, reflecting on the current state and near-term prospects of the US$50 billion MENA insurance markets. According to the Barometer the region’s insurers demonstrate confidence as they expect regional premiums to outgrow GDP and rates to finally stabilise or even start rising.
For the second year now, MultaQa Qatar also features an essay competition organised by GR and the QFC Authority. (Re)insurance professionals from across the region were invited to submit papers on issues facing the industry. The competition aims at raising awareness of the specific challenges and opportunities prevailing in the region. In addition, it offers significant visibility to young regional insurance professionals, allowing them to explore the region’s insurance sector at the macro level and encouraging their professional growth. The winner of the competition will be announced in the closing session of MultaQa on Tuesday 10 March 2015.