MUSCAT: The Sultanate of Oman is preparing to host the regional event in the Arab and global insurance industry, “The 34th Conference of the Federation of Arab Insurance Companies”, organised by the Omani Insurance Association and the General Secretariat of the Federation of Insurance Companies in cooperation with the Capital Market Authority, on February 18 to 21.
Nasser bin Salem al Busaidi, Chairman of the Board of Directors of the Oman Insurance Association, stressed the importance of organising this conference, in which more than two thousand participants are expected to participate. It is a forum that brings together insurance policy makers in the Arab region and neighbouring countries in addition to representatives of international insurance companies and reinsurers.
Al Busai said,"This conference will present the most important issues and developments related to the insurance industry and the mechanism for keeping pace with developments and international standards. This is an opportunity to learn about the experiences of the participating countries and exchange experiences about natural disaster insurance and digital insurance."
The Omani insurance market, which is supervised by the Capital Market Authority, includes 18 insurance companies, including one company concerned with reinsurance. The market size is close to half a billion Omani riyals, and the sector’s assets amount to RO 1.197 billion. — ONA
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