MUSCAT: The Sultanate of Oman, represented by the Oman Insurance Association, hosted the meeting for the General Arab Insurance Federation Council which aimed at discussing the GAIF’s main updates in addition to the preparations for hosting the 34th Session of the General Arab Insurance Federation’s Conference that will take place in Muscat from February 18 to 21, 2024. It is considered to be an important event for those interested in the Insurance Industry globally and in the Arab World.
During the meeting of the Secretary-General of the Federation, Chakib Abuzaid, and the hosting committee of the Conference, the attendees discussed the necessary arrangements for the Conference such as forming a preparatory committee which includes Secretary-General of the Federation, Ahmed bin Ali al Maamari, Vice-president of the Insurance Sector in the CMA, Nassir bin Salim al Busaidy, Chairman of the Board of Directors of Oman Insurance Association, Romel Tabaja, Vice-Chairman of the Board of Directors of Oman Insurance Association, Omar bin Ahmed al Sheikh, Member of the Board of Directors of Oman Insurance Association, and Hasan al Lawati- Member of the Board of Directors of Oman Insurance Association.
The Oman Insurance Association announced previously that the Sultanate of Oman has won hosting the conference by acclamation. This reflects the confidence of the Arab and global insurance markets in the Omani insurance sector. It also adds a tremendous economic value for the sector since it will be at the focus of attention of the Arab Insurance Companies. In addition, this conference will be the perfect opportunity to highlight the potentials of the Insurance Sector in terms of its legislations or digital system which is witnessing a noticeable advancement.
These public conferences, held by the GAIF, are extremely important since they bring together more than 1,500 Arab participants and discuss topics related to insurance and reinsurance. They also offer an opportunity for partners in the field to build communication channels to utilise the available business opportunities in the Arab insurance and reinsurance markets.
Headquartered in Cairo, Egypt, the General Arab Insurance Federation was established in 1964 and holds many conferences which are run by experts specialised in insurance to find solutions to the challenges facing the Arab insurance market in general. Considered to be one of the basic components of the Insurance Market in Oman, the Oman Insurance Association is a professional institution licensed by the Ministry of Social Development. It comprises all insurance companies and brokers operating in the Sultanate of Oman.