Insurance markets in the Middle East continue to experience a period of significant growth as leading industry players implement re-tooled strategies to tap into the enormous growth potential that the region offers, according to an expert.
“With the growth momentum that the industry has enjoyed over the last few years, it is important to ensure an orderly evolution in the industry further supporting growth and innovation,” Abdul Rahman Mohammed Al Baker, Executive Director Financial Institutions Supervision at the Central Bank of Bahrain, said.
“Industry players and regulators must work together to further strengthen the industry’s capabilities. Awards like the MEIF Institutional Excellence Award recognize and appreciate the commitment and dedication by the leading industry players in further developing the regional insurance industry,” Al Baker added.
Al Baker in a pre-event statement of the Middle East Insurance Forum 2012 (MEIF 2012) said that the institutional excellence award winner for 2012 to be announced on the 7th of February in the Kingdom of Bahrain.
The 8th MEIF 2012, which is scheduled to be held on the 7th and 8th of February 2012 in the Kingdom of Bahrain under the patronage of the Central Bank of Bahrain, urged the voters to identify the winner of the prestigious MEIF Institutional Excellence Award 2012. The annual award, which is among the oldest and most prestigious in the regional insurance industry, is designed to recognize institutions that have made significant contributions to the Middle East insurance industry and demonstrated outstanding achievements and institutional excellence in major performance areas. The award uses a unique voting system to identify the winner from a shortlist of nominees that have met the key performance criteria. The nominees for the MEIF 2012 Institutional Excellence Award are Legal and General, Bahrain Kuwait Insurance Company (BKIC), Bahrain National Insurance (BNI), and Life Insurance Corporation (International) B.S.C.
“The MEIF Institutional Excellence Award recognizes achievements, innovations and excellence in the Middle East insurance industry and encourages industry players to further strengthen their business models, adopt best practices and innovate next generation products that will propel the industry to the next phase of development,” David McLean, Chief Executive of the Middle East Insurance Forum, said.
The voting lines for the MEIF 2012 Institutional Excellence Award will remain open until the 2nd of February 2012.
The votes for the MEIF Institutional Excellence Award 2012 can be registered at www.megaevents.net/insurance
The event is set to gather more than 450 international and regional insurance industry leaders for discussions that will seek to transform the regional insurance market and build scale, boost competitiveness and seize growth opportunities in the regional insurance market.