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Top Of Their Game

KUWAIT

Khaled Saoud Al-Hasan, CEO, Gulf Insurance Company
Gulf Insurance Company (GIC) has evolved beyond its position as the largest insurance company in Kuwait to become a major regional player. Khaled Saoud Al-Hasan saw his company’s gross premiums reach KWD97.2m in 2009, while a controlling stake in Arab Orient (Jordan) was acquired. GIC’s subsidiaries include: AMIG (Egypt), BKIC (Bahrain) and SKIC (Syria).

Dr Ali Al Bahar, General Manager, Kuwait Insurance Company
Dr Ali Al Bahar is the general manager of one of Kuwait’s leading companies, overseeing an increase in gross premiums to KWD29.3m in 2009. Part of a new generation of industry leaders, Al Bahar also heads the Union of Insurance Companies (Kuwait), which is working with the regulator to raise standards in the sector and bring forward a new regulatory framework.

OMAN

Taher Al Heraki, Managing Director, Dhofar Insurance Company
As a board member and managing director of Dhofar Insurance Company, Taher Al Heraki heads Oman’s largest insurance company, which commands more than 20 per cent market share. Dhofar’s gross premiums in 2009 reached OMR58.6m (US$152.2m), up 23 per cent from 2008. Al Heraki has been praised for a proactive “Omanisation” policy, with more than 75 per cent local staff.

Murtadha Al Jamalani, Executive Director, Oman Re
A recognised industry veteran, Murtadha Ibrahim Al Jamalani is deputy chairman of the insurance committee at the Oman Chamber of Commerce & Industry, and a member of the consultancy committee at the Capital Market Authority. He is a founder and executive director of Oman Re and is finalising arrangements for the formation of the Oman Insurance Association.

BAHRAIN

Fadi Abu Nahl, CEO, Trust International Insurance & Reinsurance
Fadi Abu Nahl heads Bahrain-based reinsurer Trust International Insurance & Reinsurance, which boasts an “A-” rating (AM Best). The group also has direct insurance companies across the region including Lebanon, Palestine and Syria. Trust has the distinction of managing the Federation of Afro Asian Insurers & Reinsurers (FAIR) oil and energy insurance syndicate.

EGYPT

Adel Hammad, Chairman, Misr Insurance Company
Even with new players in the Egyptian market, Misr Insurance retains its position as the leading insurer for both life and non-life, with gross premium market share of 35 per cent and 55 per cent respectively in 2009. The government maintains its stake in Misr through the Insurance Holding Company, which also controls the National Insurance Company of Egypt.

JORDAN

Isam Abdelkhaliq, CEO, Arab Orient
The ever quotable Isam AbdelKhaliq has solidified Arab Orient Insurance’s status as the leading insurer in Jordan with gross premiums of JOD44.5m in 2009. In a sophisticated but highly competitive market Abdel Khaliq is a vocal advocate for a major market shake-up.

LEBANON

Abraham Matossian, President, Association of Lebanese Insurers
Abraham Matossian is a veteran of the Lebanese insurance industry and serves as CEO and chairman of Al Mashrek Insurance & Reinsurance, one of Lebanon’s leading insurers. His leadership role is emphasised by his position as president of the Association of Lebanese Insurers (ACAL) and first president of the Mediterranean Insurance Association.

Lutfi El Zein, CEO, MEDULF Group
Over the past two decades the MEDULF Group has expanded its operations beyond its base in Lebanon and has a diverse array of insurance and third-party administrator interests in the region, including Bahrain and Jordan. Lutfi El Zein has seen MEDGULF make significant progress in the Saudi Arabian market.

Fady Shammas, CEO, Arabia Insurance Company
Since its establishment in 1944, Arabia Insurance Company has spread its wings beyond its base in Lebanon to become a true Pan-Arab player, with offices throughout the GCC and Jordan. CEO Fady Shammas has overseen further expansion with a subsidiary in Syria and the Arabia Cooperative Insurance Company in Saudi Arabia.

SYRIA

Sulaiman Al-Hasan, Director General, Syrian Insurance Company
With Sulaiman Al-Hasan at the helm, the government-backed Syrian Insurance Company has maintained its leadership position in the Syrian market, despite the entry of  new players over the Past few years. The Syrian insurance market grew 15 per cent to US$311m in 2009, with SIC accounting for more than 40 per cent of the market.

YEMEN

Tarek Saeed, General Manager, United Insurance Company
United Insurance Company is the leading insurer in Yemen, commanding more than 40 per cent market share. As general manager, Tarek Saeed saw his company achieve gross premiums of YER7.3bn (US$35.8m) in 2009. Recent initiatives include the opening of Yemen’s first takaful window.

GLOBAL INSURERS

Paul Holmes, CEO, RSA Middle East
Paul Holmes has built on this global insurer’s long history in the region to create a force to be reckoned with. With offices in the UAE, Saudi Arabia (Al Alamiya), Bahrain and elsewhere, RSA’s recent acquisition of Al Ahlia (Oman’s third-largest insurer) represents a bold statement of intent and will create the largest insurance group in Oman by net written premium.

Jean-Louis Laurent Josi, CEO, Axa Gulf
Jean-Louis Jossi has solidified Axa Gulf’s position as the largest foreign non-life operation in the region with gross premiums of US$445m (net income of US$40m) and offices in almost all GCC countries. With a bold display of financial muscle in marketing and service delivery, Axa is a leader in the motor segment and is making significant inroads on major corporate accounts.

RE-INSURANCE BROKERS

Latif Al Reyes, CEO, Aon Middle East
With a notable career with Arig behind him, Latif Al Rayes heads Aon’s Middle East operations from its headquarters in the DIFC. Arguably the leading broking and consulting firm in the region, Aon boasts an enviable roster of major commercial accounts that are served by 200 brokers and an extensive network of offices.

Robert Makhoul, Head of Middle East operations, Marsh
Robert Makhoul heads global giant Marsh’s operations in the Middle East and Africa and has overseen the rapid expansion of the reach of its risk advisory services. Marsh’s recent acquisition of HSBC Insurance Brokers has strengthened the company’s leading position in the region. Last year also saw Marsh secure a licence to provide full broking and advisory services in Egypt.

Farid Chedid, Managing Director, Chedid Re
Farid Chedid has driven the Chedid Group’s rapid expansion since its launch in Cyprus and established Chedid Re as a major reinsurance broker in the MENA region. The company has recently established new offices in Qatar and Saudi Arabia to build on its existing presence in the UAE and Beirut.

George Kabban, Director, United Insurance Brokers
Although based in London now, UIB’s history is rooted in the Middle East and counts energy and aviation as part of its core business areas. George Kabban manages UIB’s regional operations from its DIFC hub and is a regular speaker on the conference circuit; winning plaudits from the industry for his straight-taking approach.

Joseph Azar, Executive Director, Nasco Karaoglan
The Paris-based group established Nasco Karaoglan Dubai in 1976 and has a strong presence in the region, with a diverse range of interests covering insurance broking, underwriting agencies and insurers. Joseph Azar overseas a growing network which includes Bankers Assurance SAL (Lebanon) and a brokerage within the Qatar Financial Centre.

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