Building Scale: Adapting To A Changing Market For Islamic Cooperative Insurance In The Middle East

More than 250 key players and thought leaders in the Middle East insurance and reinsurance industry will be gathering on the 13th & 14th of October 2014 at the Gulf Hotel, Kingdom of Bahrain for the 3rd Annual Edition of the Middle East Takaful Forum, which is supported by the Central Bank of Bahrain . The two day event, held under the theme “Building Scale: Adapting to a Changing Market for Islamic Cooperative Insurance in the Middle East”, is set to begin on the 13th of October 2014 with an inaugural keynote plenary by Abdul Rahman Mohammed Al Baker, Executive Director – Financial Institutions Supervision, Central Bank of Bahrain , followed by international keynote addresses from Dr Eddy Chong Siong Choy, Director of Accreditation Division, Finance Accreditation Agency (FAA); and Sohail Jaffer, Deputy CEO, FWU Global Takaful Solutions, discussing major Lessons from Key International Takaful Markets. A key highlight of METF 2014 will be the high profile Power Debate session led by internationally respected CEOs and industry leaders.

The debate will address topics on How the Takaful Industry in the Middle East can Build Critical Mass and Move to the Next Level of Development. A critical factor that will determine success in taking the industry to the next level of development will be the readiness of industry players to formulate and execute successful strategies in response to new market conditions and opportunities that will reignite growth levels.

A key challenge for Takaful operators will be to maintain the growth momentum while also boosting profitability – and this calls for taking proactive steps, fresh new thinking, and the ability to rapidly adapt to change on challenging issues such as pricing, risk-sharing, regulatory developments, and building scale in terms of both product and distribution. Increasingly, leading players are focusing on delivering sound and sustainable underwriting profitability as essential to build the capacity, capability and scale to profitably compete in the regional Takaful markets. The 3rd Annual METF 2014 Exhibition, which runs along the sidelines of the conference, will showcase emerging high-growth business areas such as Life Insurance/Family Takaful, Medical/Health Insurance, and General Insurance Takaful new opportunities in the region.

Originally published on www.zawya.com