nd

2 Saudi Insurance


28 – 31 October 2007
Jeddah Hilton Hotel, Jeddah, Saudi Arabia Summit
Remember to quote your VIP Code when registering to be
entered into a draw to WIN US$ 250 Dubai Duty Free Vouchers.
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FIVE WAYS TO REGISTER
+971-4-3352438
register@iirme.com 2 Saudi Insurance


+971-4-3352437

IIR Holdings Ltd. GCS/IIR Holdings Ltd.

P.O Box 21743

 www.insurancesaudi.com
Dubai, UAE
P.O Box 13977
Muharraq, State of Bahrain
28 – 31 October 2007
Jeddah Hilton Hotel, Jeddah, Saudi Arabia Summit
Yes, I want to register for the Saudi Insurance Summit AK0304
Pre-Summit Workshop 28 October 2007 US$ 995 / SAR 3,781 The Premier Insurance Industry Event For Saudi Arabia
Saudi Insurance Summit 29 – 30 October 2007 US$ 1,695 / SAR 6,441
Registration for the Summit gives you free access to the Gala Dinner! Including key contributions from:
Post-Summit Workshop 31 October 2007 US$ 995 / SAR 3,781 For further information ➢ Hammad & Al Mehdar, KSA ➢ Ministry of Health, KSA
Discounts and Group Discounts ➢ The Company for Cooperative ➢ Swiss Reinsurance Company, Switzerland

Book Two-Day Summit + 1 Workshop Save US$ 200 US$ 2,490 / SAR 9,462 Insurance (NCCI), KSA ➢ AIG, UAE
contact +971-4-3352483
➢ The Alliance of Abbas F. Ghazzawi & ➢ Institute of Banking (SAMA), KSA
Book Two-Day Summit + 2 Workshops (entire event)Save US$ 500 US$ 3,185 / SAR 12,103 or email: info@iirme.com
Hammad & Al-Mehdar, KSA ➢ Takaful Re, Bahrain
Early Bird Discounts ➢ Medgulf, KSA ➢ Arab Insurance Group (ARIG), Bahrain
Book the entire event before 12 August 2007 Save a further US$ 200 US$ 2,985 / SAR 11,343 Fees include documentation, ➢ BMG Financial Advisors, KSA ➢ Takaful Ta’awuni - Bank Aljazira, KSA
Book the entire event before 2 September 2007 Save a further US$ 100 US$ 3,085 / SAR 11,723
luncheon, refreshments and
➢ Manar Sigma Financial Consulting, KSA ➢ Saudi Arabian Monetary Agency
a certificate of attendance
➢ Lebanese Insurance Brokers Syndicate, (SAMA), KSA
Lebanon ➢ Council of Cooperative Health Insurance
PERSONAL DETAILS ➢ MedNet Holding GmbH (a Munich Re (CCHI), KSA
Group Company), GCC ➢ Jadwa Investment Company, KSA
Title First Name Surname Job Title Department Email
➢ Muhanna & Co., Lebanon ➢ BUPA Middle East, KSA
1st Delegate ➢ KPMG Al Fozan & Al Sadhan, KSA ➢ Arabian Company for Insurance &
2nd Delegate ➢ Unicorn Investment Bank, Bahrain Reinsurance Brokers (AMS), KSA
➢ Doha Bank, Qatar ➢ The Law Firm of Majed M. Garoub, KSA
3rd Delegate
➢ The Chartered Insurance Institute, UK ➢ Bahrain Monetary Agency, Bahrain
4th Delegate ➢ King Abdul Aziz University, KSA ➢ University of Durham’s School of

To assist us with future correspondence, please supply the following details: ➢ Oxford Business Group, UAE Goverment and International Affairs, UK

Head of Department
Take Advantage Of The Most Comprehensive
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1
Payments Hotel & Accommodation Details Cancellation Takaful Structures And Shari’ah Compliance
A confirmation letter and invoice will be sent upon receipt of your registration. Jeddah Hilton Hotel, Jeddah, Saudi Arabia If you are unable to attend, a substitute
Post-Summit Workshop: Mind The Gap!
Please note that full payment must be received prior to the event. Only those delegates
whose fees have been paid in full will be admitted to the event.You can
Tel: +966-2-6590000
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delegate will be welcome in your place.
If this is not suitable, a US$ 200 service 2 How Can We Bridge The Insurance Skills Shortage?
pay by company cheques or bankers draft in Dirhams or US$. Please note that all charge will be payable. Registrations
US$ cheques and drafts should be drawn on a New York bank and an extra amount of We highly recommend you secure your cancelled less than seven days before the Diamond Sponsor
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should be in favour of IIR Holdings Ltd. last minute inconvenience.You can contact
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 nd
2 Saudi Insurance
28 – 31 October 2007
Jeddah Hilton Hotel, Jeddah, Saudi Arabia Summit
The Premier Insurance Industry Event For Saudi Arabia
Hear From Over 30 High Profile International And Regional Speakers: ➢ Adli Hammad, Senior Partner
Hammad & Al Mehdar, KSA
➢ Ahmed A. Al-Shalan, Vice President – Marketing & Sales
The Company for Cooperative Insurance (NCCI), KSA
➢ Andreas Haberbeck, Barrister
The Alliance of Abbas F. Ghazzawi & Hammad & Al-Mehdar, KSA
➢ Ayman El Hout, Deputy General Manager
Medgulf, KSA
➢ Basil Al-Ghalayini, CEO
BMG Financial Advisors, KSA
➢ Chris Symeonidis, CEO
Manar Sigma Financial Consulting, KSA
HE Dr. Muhammad Al-Jasser Dr. Abdullah I. Al Sharif Ali A. Al Subaihin Brad Bourland ➢ Elie Ziadé, President
Vice Governor General Secretary Board Member and CEO Chief Economist Lebanese Insurance Brokers Syndicate, Lebanon
Saudi Arabian Monetary Council of Cooperative Health The Company for Cooperative Jadwa Investment Company ➢ Fahad A. Al-Hesni, Vice President – Property & Casualty
Agency (SAMA), KSA Insurance (CCHI), KSA Insurance (NCCI), KSA KSA The Company for Cooperative Insurance (NCCI), KSA
➢ Dr. Frank Mayer, Regional Managing Director
MedNet Holding GmbH (a Munich Re Group Company), GCC
➢ Ibrahim Muhanna, Futurist
Muhanna & Co., Lebanon
➢ John Elkaas, Senior Director
KPMG Al Fozan & Al Sadhan, KSA
➢ Khalil Ghneim, Senior Director – Takaful
Unicorn Investment Bank, Bahrain
➢ Manoj Kumar, Head of Bancassurance
Doha Bank, Qatar
➢ Mark Greenwood, Head of Regional Business
Development – Middle East
Dr. Omar Fisher Talal Hisham Nazer Dawood Taylor Dr. Adham Jaad
The Chartered Insurance Institute, UK
Managing Director – Takaful Managing Director Group Head CEO ➢ Dr. Mohamed Ali El-Gari, Professor of Islamic Economics
Unicorn Investment Bank BUPA Middle East, KSA Takaful Ta'awuni - Bank Aljazira Arabian Company for Insurance King Abdul Aziz University, KSA
Bahrain KSA & Reinsurance Brokers (AMS) ➢ Oliver Cornock, Regional Editor
KSA Oxford Business Group, UAE
➢ Reda Khalil, Senior Minister Advisor
Ministry of Health, KSA
By attending this top-level, cutting edge event you will: ➢ Safder Jaffer, Client Markets Europe – Middle East
Turkey & Pakistan, Western & Southern Europe
Swiss Reinsurance Company, Switzerland
➢ Paul Sterckx, Assistant Vice President – Financial Lines Arabian Region
• Understand how ongoing economic developments affect the Saudi Arabian AIG, UAE
insurance industry ➢ Mohamed El Dishish, CFO
Takaful Re, Bahrain
• Determine the impact of new insurance companies entering the market ➢ Ian Hayward, Director – Life and Medical
Arab Insurance Group (ARIG), UAE
• Discover the roles of the Saudi Arabian reinsurance and Retakaful industries now ➢ Chakib Abouzaid, CEO
Takaful Re, Bahrain
and in the future ➢ Rodney Wilson, Director of Post Graduate Studies and

• Learn international insurance best practices and how to reach them Professor of Economics
University of Durham’s School of Goverment and
• Determine the current state of medical care in Saudi Arabia and how compulsory International Affairs, UK
➢ Dr. Majed Mohammed Hussain Garoub, Chairman
health insurance will impact it The Law Firm of Majed M. Garoub, KSA
and Chairman
• Understand the growing trend of bancassurance as a viable option for insurers The Saudi Law Training Centre, KSA
➢ Sheikh Nizam Yaquby, Shari’ah Board Member
• Identify the principles and structures of Takaful insurance Bahrain Monetary Agency, Bahrain

• Examine the level of insurance expertise within the Kingdom and how it can be improved ➢ Ian Wilson, FIIC, MBA, Head of Insurance Programs
Institute of Banking (SAMA), KSA

Diamond Sponsor
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Strategic Business In Cooperation with

Exclusive Insurance Media Partners Information Partner
Magazine

+971-4-3352437 +971-4-3352438
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 nd
2 Saudi Insurance
28 – 31 October 2007
Summit
Dear Insurance Professional,
It gives me great pleasure to present to you the 2nd Saudi Insurance Summit, the premier annual The pre-summit workshop Principles Of Islamic Insurance – Takaful Structures And Shari’ah
insurance event for Saudi Arabia, taking place at the Jeddah Hilton Hotel on 28 – 31 October 2007. Compliance will provide delegates with the principles and structures of Islamic insurance as well as
the significant Shari’ah implications.
The Saudi Arabian insurance industry is experiencing considerable expansion. The Saudi Arabian
Monetary Agency (SAMA) continue to develop the insurance industry through market liberalisation, The post-summit workshop Mind The Gap! How Can We Bridge The Insurance Skills Shortage?
with the central bank approving 26 local and foreign insurance companies to launch operations in will explore the skills gap with participants and discuss strategies to bridge the skills gap within
the Kingdom and 10 applications under review. Many believe the new laws and new licensed this growing insurance industry so to be more competitive with the expertise found in more
companies will boost confidence in the industry by curbing the activities of unlicensed companies mature markets.
and some are predicting a double in insurance market turnover over the next five years.
The Saudi Arabian insurance industry is in a state of transition and this is your chance to take
There is a general consensus among insurance experts that this rapid growth has been catalysed advantage of the opportunities in this growing market.
by two regulatory changes within the non-life insurance segment in the Kingdom. One is the
promulgation by SAMA of the Co-operative Insurance Companies Supervision Act which provided I look forward to welcoming you to the 2nd Saudi Insurance Summit, where all the main
the first formal regulatory structure for the insurance market in Saudi Arabia, and the other is the protagonists of this industry will be found.
new law making it mandatory for all expatriate workers to be health insured by their employers.
Yours faithfully,
The 2nd Saudi Insurance Summit will tackle all the current issues and developments, including
these significant regulatory issues, through a series of presentations and panel discussions. There
will be ample opportunity for you to address your questions to each of the high profile professionals
participating in this important industry event. Deep Marwaha
Conference Manager
In addition to the exclusive two-day summit, there are two practical workshops covering some
of the most important issues in the Saudi insurance industry. These interactive training days are
P.S. Book the entire event today and you could save up
designed through experienced qualified trainers to provide delegates with tangible tools and
techniques to take back to their respective organisations and put into practice immediately.
to US$ 700

By attending this top-level, cutting edge event you will:

• Understand how ongoing economic developments affect the Saudi Arabian insurance industry • Determine the current state of medical care in Saudi Arabia and how compulsory health
• Determine the impact of new insurance companies entering the market insurance will impact it

• Discover the roles of the Saudi Arabian reinsurance and Retakaful industries now and in the future • Understand the growing trend of bancassurance as a viable option for insurers

• Learn international insurance best practices and how to reach them • Identify the principles and structures of Takaful insurance
• Examine the level of insurance expertise within the Kingdom and how it can be improved

Pre-Summit Workshop Sunday, 28 October 2007

Workshop Timings: Registration will be at 08:00. The workshop will commence at 08:30 and conclude at 14:30 with lunch.
There will be two refreshment breaks at appropriate intervals.

Principles Of Islamic Insurance – Takaful Structures And Shari’ah Compliance

The Takaful industry is growing rapidly worldwide with annual premiums already worth over
US$ 1.7 billion. As well as dedicated Takaful companies, major international insurance companies,
including Allianz and Prudential, are now entering the market. The latter and Bank Aljazira signed a
Memorandum of Understanding in June agreeing to Prudential becoming the largest individual
shareholder in a new venture that will acquire the existing Saudi Arabia market leader: the Takaful
Ta’awuni life insurance business of Bank Aljazira. The new Takaful Ta’awuni Life Insurance operation
will be listed on the Saudi Arabian Stock Exchange (the Tadawul). They are also undertaking at this
time a SAMA licensing process with Prudential plc, their new joint venture partner for both Saudi
Arabia as well as also in the Middle East and North Africa. Allianz is also competing in the Saudi
market through its joint venture with Banque Saudi Fransi which was granted a license in December
2006, and Allianz Takaful was established this year in Bahrain. Allianz are also involved in Indonesia
though Allianz Utama, their rapidly expanding subsidiary. It is this most populous Muslim country that
may in the long run offer the greatest potential for Takaful.
The aim of this workshop is to explain in detail the principles of Islamic insurance and examine
why conventional policies are unacceptable from a Shari’ah perspective. The major structures for
delivering Takaful will be analysed, notably the Wakala and Mudarabah models which are designed
to protect the interests of the premium payers and retain some of the features of a mutual while
bringing in shareholder capital. Takaful funds must be managed in a Shari’ah compliant manner,
which has implications for the form in which assets are held. Asset allocation strategies will be
discussed; notably the implication of holding different types of Sukuk. The consequences of
holding equities that are screened for Shari’ah compliance will also be analysed.
Legal and regulatory issues involving Takaful will be explained, with specific material discussed
including the Takaful Act of Malaysia, the Central Bank of Bahrain Rulebook on Takaful and the
documentation produced by the Islamic Financial Services Board and the International Association
of Insurance Supervisors on the regulation and supervision of Takaful.

Workshop agenda
Principles of Islamic insurance and Takaful structures
• Takaful versus conventional insurance
• Koranic prohibitions with respect to insurance and the
concept of Gharar
• Mutual insurance principles
• The Wakala and Mudarabah models and the concept of Tabarru
• Family Takaful insurance
• Risk management by Takaful companies
• Retakaful operations and underwriting
• Cross selling and Islamic bancassurance versus independent
Takaful providers
Asset management by Takaful companies
• Revolving and permanent funds
• Avoidance of Riba in assets held by Takaful companies
• Sukuk as an alternative to conventional bonds or notes
• Asset allocation of Salam, Murabahah, Ijara, Musharakah and
convertible Sukuk
• Screening of equity investments by Takaful companies
• Liquidity management through Murabahah commodity
investments
• Measuring the financial performance of Takaful funds
Shariah compliance, legal, regulatory and rating issues
concerning Takaful and selected case studies
• Shari’ah governance and procedures for Shari’ah assurance
for Takaful products
• The need for special legislation: Malaysia’s 1984 Takaful Act
• Regulatory issues: the guidelines of the Islamic Financial
Services Board and the Bahrain Central Bank Rulebook
• Rating Takaful companies using Moody’s methodological
framework
• Case studies: Solidarity of Bahrain, Allianz Takaful and Takaful
Ta’awuni Life Insurance of Saudi Arabia

Meet Your Workshop Leader:
Rodney Wilson
Director of Postgraduate Studies and Professor of Economics
University of Durham’s School of Government and
International Affairs, UK
Rodney Wilson is Director of Postgraduate Studies at the University
of Durham’s School of Government and International Affairs and a
Professor of Economics. He currently chairs the academic committee
of the Institute of Islamic Banking and Insurance in London and is acting as consultant to the
Islamic Financial Services Board with respect to its Shari’ah Governance Guidelines. He is author
of numerous books and articles on Islamic finance.
Professor Wilson also teaches masters level courses on Islamic economics and finance and
supervises a number of PhD students working on Islamic finance. He has acted as Course
Director for Euromoney Training in London, Kuwait, Bahrain, Bangkok and Singapore, and taken
courses for the Kuwait Investment Authority, the Commercial Bank of Kuwait, the Arab Banking
Corporation, Citibank and the Monetary Authority of Singapore.

+971-4-3352437 +971-4-3352438
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Summit Day One
Monday, 29 October 2007

A Message From Your Chairman: Basil Al-Ghalayini, CEO

BMG Financial Advisors, KSA
Ahmed A. Al-Shalan, Vice President – Marketing & Sales
Ali A. Al-Subaihin, Board Member and CEO
The Company for Cooperative Insurance (NCCI), KSA
The Company for Cooperative Insurance (NCCI), KSA
John Elkaas, Senior Director
KPMG Al Fozan & Al Sadhan, KSA
Dawood Taylor, Group Head
Takaful Ta'awuni – Bank Aljazira, KSA

WELCOME TO ALL 13.00 The Emerging Family Takaful Market In Saudi Arabia – Opportunities And Challenges
• The market potential of family Takaful in Saudi Arabia
The Saudi insurance industry is currently entering a new era of crucial importance. We see
• Focus on Takaful products that address the evolving needs of participants
the impact of new insurance market regulations, licensing of new companies, the floating • Family Takaful business as a source of diversification and sustainable profitability
of shares on the Saudi stock market, implementation of new compulsory insurance laws • Regulatory considerations, disclosure requirements and participants’ reasonable
and the increase of competition. expectations
• Family Takaful distribution strategies
With these developments, a number of significant issues are arising; mainly the impact • The role of the actuary
of compulsory insurance laws, the effect of the competitive environment on enhancing • What is Takaful Takaful?
business practices, the future of cooperative (Shari’ah compliant) insurance in the Kingdom, • What products are offered by a life Takaful operator
and the main elements for setting the base for a strong and sophisticated insurance industry • What distribution channels are open to a life Takaful operation
in the Kingdom. • How are participant contributions invested?
• What are the challenges going forward for the life Takaful industry
I feel the Saudi Insurance Summit, being conducted in the Kingdom for the second year
Chris Symeonidis, CEO
consecutively, is an event that the Saudi insurance industry eagerly awaits to tackle these
Manar Sigma Financial Consulting, KSA
issues and more.
Dawood Taylor, Group Head
Takaful Ta'awuni - Bank Aljazira, KSA
The Summit will introduce many opinions and sound concepts on these issues and
assist in drawing a clear road map for the Saudi insurance industry. It will also provide 13.45 Lunch For Delegates And Speakers
a platform where local and international insurance and business experts can tackle the
current hot topics and present a realistic vision towards the future of the insurance 14.45 PANEL DISCUSSION: Is There A Changing Landscape For Reinsurance
industry in Saudi Arabia. And Retakaful Operators?
• The current state of the Retakaful market in Saudi Arabia
I look forward to welcoming you to the 2nd Saudi Insurance Summit where we shall all • Exploring a mechanism for an active role of Retakaful in the Islamic financial system
• Where do conventional reinsurers stand currently in the Islamic insurance scene?
contribute to building this promising industry.
Safder Jaffer, Client Markets Europe – Middle East
Turkey & Pakistan, Western & Southern Europe
Swiss Reinsurance Company, Switzerland
09.00 Registration And Coffee Chakib Abouzaid, CEO
Takaful Re, Bahrain
09.45 Opening Remarks From The Chair Ian Hayward, Director – Life and Medical
Arab Insurance Group (ARIG), Bahrain
Ali A. Al Subaihin, Board Member and CEO
The Company for Cooperative Insurance (NCCI), KSA
15.45 Networking And Refreshment Break
10.00 Economic Outlook And Investment Climate – What Is The Possible Impact On
The Insurance Industry? 16.15 Moving From Minimum Standards To Best Practice Within The Insurance Industry

• How do ongoing macro-economic conditions impact newly formed insurance companies?
• Coming to terms with the reality of being a publicly-listed company in the Kingdom
• A healthy investment environment equates to a healthy insurance industry
Brad Bourland, Chief Economist
Jadwa Investment Company, KSA
• The importance of 'professionalism'
• Lessons learnt from developed markets and the region
• The role of a professional body in positive developments
Mark Greenwood, Head of Regional Business Development – Middle East
The Chartered Insurance Institute, UK

16.45 Measuring The Performance Of The Customer Service System

10.30 KEYNOTE ADDRESS: Recent Developments And Outlook Of The Insurance
• Benchmarking and standards
Market In Saudi Arabia
• Choosing performance measures
HE Dr. Muhammad Al-Jasser, Vice Governor • Quantitative measures and behavioural measures
Saudi Arabian Monetary Agency (SAMA), KSA • Measurement techniques
• Putting performance measures to use
11.00 Development Of Medical Malpractice Insurance In Saudi Arabia
Khalil Ghneim, Senior Director – Takaful
• Historical background Unicorn Investment Bank, Bahrain
• Implication of legal systems – Shari’ah law and vicarious liability
• Enactment of medical practitioners regulation 17.15 Closing Remarks From The Chair
• Claim trends
Fahad A. Al-Hesni, Vice President – Property & Casualty 17.20 Close Of Day One

Gala Dinner
The Company for Cooperative Insurance (NCCI), KSA

11.30 Networking And Refreshment Break 2nd Saudi Insurance

12.00 PANEL DISCUSSION: Determining The Impact Of New Insurance Companies
Entering The Saudi Insurance Market Summit
• Can “Greenfield” IPOs succeed? Sponsored By The Company for Cooperative Insurance (NCCI)
• Potential impact of insurance sector development on Saudi capital markets
29 October 2007 – 19.30
• Will publicly listed insurance companies improve the quality of insurance provision?
Jeddah Hilton Hotel, Jeddah, Saudi Arabia
• Assessing the risk of “over-capacity”
NCCI is proud to sponsor this year’s Gala Dinner which represents its second
Moderator: Oliver Cornock, Regional Editor participation in this vital gathering. NCCI invites Summit delegates to an evening
Oxford Business Group, UAE of debate and discussion on the current insurance environment in Saudi Arabia.
The evening will start with a welcoming speech from a senior executive, followed
by a gourmet dinner.

+971-4-3352437 +971-4-3352438
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Summit Day Two
Tuesday, 30 October 2007
08.55 Opening Remarks From The Chair
Dr. Mohamed Ali El-Gari, Professor of Islamic Economics
09.00 Health Services In The Kingdom – Past, Present And Future King Abdul Aziz University, KSA
• Health development system project Sheikh Nizam Yaquby, Shari’ah Board Member
• Health insurance for citizens as a cure to advance and promote the health Bahrain Monetary Agency, Bahrain
system in Saudi Arabia
15.30 Networking And Refreshment Break
Reda Khalil, Senior Minister Advisor
Ministry of Health, KSA 16.00 Improving Market Confidence Through Adequate Dispute Resolution And
Claims Assessment
09.30 PANEL DISCUSSION: Understanding The Impact Of Compulsory Health Insurance
• An overview of the legal framework for the settlement of insurance disputes
Key representatives from insurance, medical and regulatory institutions debate the • How a transparent claims assessment policy leads to greater confidence
implications of new health insurance laws in Saudi Arabia • Legal protection – what is available at the moment?
• What is the impact, medically and economically, of a shift in regulation? • Future impact of consistent and transparent judiciary
• Future developments that could enhance the regulatory structure of this important sector Andreas Haberbeck, Barrister
Moderator: Ayman El Hout, Deputy General Manager The Alliance of Abbas F. Ghazzawi & Hammad & Al-Mehdar, KSA
Medgulf, KSA
16.30 Enterprise Risk Management And It’s Application In Takaful Companies
Dr. Abdullah I. Al Sharif, General Secretary
• What is the Enterprise Risk Management concept?
Council of Cooperative Health Insurance (CCHI), KSA • The importance of Enterprise Risk Management in achieving strategic objectives
Ibrahim Muhanna, Futurist • How to develop effective Enterprise Risk Management in the current environment
Muhanna & Co., Lebanon • Applying and implementing Enterprise Risk Management within an organisation
Talal Hisham Nazer, Managing Director Mohamed El Dishish, CFO
BUPA Middle East, KSA Takaful Re, Bahrain

17.00 The Role Of A National Association In The Promotion Of An Insurance Industry

10.30 Networking And Refreshment Break
• The start-up of an association
• The local constraints
11.00 Understanding The Future Of Financial Insurance Products In The Middle East • The regional and international presence
And Saudi Arabia • The motivation of the team
• What are the established Financial Lines products? • The findings
• The undeveloped products and the untouched products Elie Ziadé, President
• Future potential for Saudi Arabia and beyond Lebanese Insurance Brokers Syndicate, Lebanon
Paul Sterckx, Assistant Vice President – Financial Lines Arabian Region
17.30 Closing Remarks From The Chair
AIG, UAE
17.45 Close Of Summit
11.30 Examining Bancassurance As A Viable Option For Insurers
• Partner selection puzzle
• Distribution choices
• The importance of bancassurance as a vital distribution channel in a competitive market
Post-Summit Workshop
Wednesday, 31 October 2007
• Open or closed wedlock?
• Profit sharing options
• “The Puzzle of Bancassurance”
• Modes of cooperation
Workshop Timings: Registration will be at 08:00. The workshop will commence at
• Challenges of proper “fit”
08:30 and conclude at 14:30 with lunch. There will be two refreshment breaks
Manoj Kumar, Head of Bancassurance
at appropriate intervals.
Doha Bank, Qatar
Dr. Omar Fisher, Managing Director – Takaful
Unicorn Investment Bank, Bahrain Mind The Gap!
12.30 Cooperative Health Insurance In The Kingdom Of Saudi Arabia – Challenges How Can We Bridge The Insurance Skills Shortage?
And Opportunities From An Industry Perspective The Saudi Arabian insurance market is in its infancy but it has the potential for significant growth
• Health insurance in the GCC – current status and expected developments as the nation becomes accustomed to the importance and value of a thriving insurance sector.
• The cooperative law in the Kingdom – a brave step into the future However, the growth of the industry and the success of the players in the market will greatly
• Key success factors for implementation – experience from other markets and depend on the acquisition of a rare resource – skilled personnel!
challenges for Saudi Arabia
• The role of the industry: Public-Private Partnership Saudi Arabia’s huge shortage of skilled insurance professionals is not going to fix itself. With an
Dr. Frank Mayer, Regional Managing Director increasing number of new companies coming into the rapidly growing market each year the
MedNet Holding GmbH (a Munich Re Group Company), GCC demand for trainable and trained insurance personnel will increase. Companies that fail to
invest in the training and development of their staff will ultimately fail themselves.
13.00 Building Awareness Among All Insurance Stakeholders To Enhance The Industry
In Saudi Arabia In this workshop, Ian Wilson (Head of Insurance Programs, Institute of Banking, SAMA) will explore
• Developing awareness among the community in general to understand the overall the skills gap with participants and discuss strategies to bridge the skills gap within the industry.
importance of a thriving insurance market He will also discuss how the industry and government agencies can work together to quickly
• The importance of building an educated generation through students, college societies bring about a first class insurance professionals pool.
and concerned researchers
• Reaffirming awareness among insurance company executives and employees to Workshop Agenda
understand the intricacies of regulations and apply them in a way that improves
quality of service The current situation
Dr. Adham Jaad, CEO • The need for skilled insurance professionals • The impact of the skills shortage – The skills path
Arabian Company for Insurance & Reinsurance Brokers (AMS), KSA
• Review of the Saudi insurance industry • Making the shift from being an insurance
& Economic Advisor – Insurance and Reinsurance
skills shortage operator to a world-class insurance leader
Dr. Majed Mohammed Hussain Garoub, Chairman
The Law Firm of Majed M. Garoub, KSA Bridging the skills gap
and Chairman
• Discussion on the key skills shortages • Strategies for bridging the gap
The Saudi Law Training Centre, KSA

13.45 Lunch For Delegates And Speakers

14.45 PANEL DISCUSSION: Shari’ah Compliance – Evaluating The Implications
In A Growing Insurance Market
• Cooperative insurance or Takaful – what are the differences?
• Analysing the Saudi cooperative insurance implementation regulations as they stand
• Implications of mandatory deposits in the form of Saudi treasury bonds
• Distributions of surplus between the company and the policy holders
Moderator: Adli Hammad, Senior Partner
Hammad & Al Mehdar, KSA
Meet Your Workshop Leader
Ian Wilson, FIIC, MBA, Head of Insurance Programs
Institute of Banking (SAMA), KSA
Ian Wilson is Head of Insurance Programs at the Institute of Banking (IOB),
a part of the Saudi Arabia Monetary Agency. Prior to joining the IOB, Ian
spent 24 years in the property and casualty insurance sector. He has held
senior management roles in major Canadian and UK insurers in the areas of underwriting,
marketing and human resources. As well as publishing a number of articles, he is a Fellow
of The Insurance Institute of Canada and graduated with an MBA from York University, Toronto.

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Summit Sponsors
Diamond Sponsor
The Company for Cooperative
Insurance (NCCI) is a Saudi joint
stock company established in Riyadh,
Kingdom of Saudi Arabia by Royal
Decree Number M/5 and incorporated on January 18, 1986 under Commercial
Registration No. 1010061695.
With its subscribed capital of SR 500 million and a gross written premium amounted
to SR 1,750 million in 2006, NCCI is now the leading insurance company in
Saudi insurance market.
NCCI transacts cooperative insurance operations and all related activities including
reinsurance and agency activities. Its principal lines of business include: motor, marine,
Platinum Sponsors
Fixing the image of the Middle Eastern market is a core
vision of Medgulf, one of the major insurance companies
in the Gulf region and the leading non-governmental
insurer in Saudi Arabia. Having commenced as an offshore insurance and reinsurance
company registered in Bahrain in 1995, it transacted its Saudi operation through an
exclusive contract with Al Samiya Trading Company and in 1997 acquired the shares of
Strikers Insurance and Reinsurance Company in Lebanon. A year later Medgulf increased
its capital through an investment by the Al Azizia Group headed by Prince Walid Bin Talal
and Group Mediterranean, at the time owned by the Hariri family. A sharp ascent followed
for the newly formed Medgulf Holding with acquisitions of Addison Bradley & Co
Insurance Brokerage, ARK insurance, Medivisa and Omnilife.
Bank Aljazira’s Takaful Ta’awuni Division (TTD)
marked its entry into the life takaful business in
2001, providing risk protection and structured
savings contracts to Saudi individual and
corporate customers. The products are a
Shari’ah compliant alternative to conventional life insurance and TTD was the first life Takaful
organisation to sell Shari’ah approved and SAMA approved life Takaful products in the
Kingdom of Saudi Arabia. It has led the industry regionally and globally having received the
2007 “Life Insurer of the Year” award from Middle East Insurance Awards in recognition of its
achievements preceded by the Euromoney 2006 award for “Best Life Takaful Operator”
in the world and the “Islamic Finance Weekly 2004” award for “Best Takaful Operator”.
Takaful Ta’awuni products conform to Islamic business principles and promote the sense
of caring, brotherhood and mutual assistance through participation in the cooperative risk
pool where the fortunate few assist the many unfortunate individuals who are unable to
Gold sponsor
Established in 2005, Takaful Re Ltd. rates among
the highest capitalised Retakaful companies today.
Its paid-up capital is US$ 125 million.
Takaful Re is a full fledged Retakaful operator accepting business from Takaful
and cooperative companies all over the world. Takaful Re founders are large
GCC financial institutions lead by Arig, which allows the company to benefit
from its 26-year reinsurance experience.
1st Saudi Insurance Summit 2006 Past Delegate Industry profile
Senior Management
Sponsorship and Exhibition Opportunities
Participate as a sponsor or exhibitor in the 2nd Saudi Insurance Summit and your company will reach
the top decision makers in the sector.
As well as a unique networking opportunity, sponsoring or exhibiting at the 2nd Saudi Insurance Summit
provides a targeted approach to promoting your corporate image, products and services as well as creating
greater market awareness.
+971-4-3352437 +971-4-3352438
register@iirme.com  www.insurancesaudi.com


fire, medical, engineering, energy, aviation, Takaful and casualty insurance.
NCCI operates through a network consists of customer services centers, 3 regional
offices and more than 67 branches Kingdomwide.
In 2007, NCCI has been assigned an (A) credit rating by Standard & Poor’s (S&P) Rating
Services. According to S&P NCCI is one of the top 200 insurance companies world-wide.
Since its early beginnings, NCCI took it upon itself to develop the Saudi insurance
industry, setting standards for optimal insurance services and introducing new products
that satisfy client needs, especially in the retail sector. So, NCCI's mission is to be the
insurer of choice and the employer of choice.
“In 2004, Medgulf submitted its application to the Saudi Arabian Monetary Authorities
(SAMA) for its license to operate as an officially recognised insurer as required by the new
Saudi Cooperative Insurance Companies Law,” says Medgulf’s Chairman Mr Lufti El Zein.
The official license was obtained in 2006 along with an A rating from the Digest Arab
Insurance Rating within the Muhanna framework. “We at Medgulf are fully committed
to continue building a solid and serious leading Pan Arab insurance group based
on professionalism and transparency at the forefront of the insurance industry.”
Combined with its international network of reinsurers, Medgulf guarantees investors
secure operations within the Kingdom of Saudi Arabia.
provide for their future or their families in the event of premature death or disability.
TTD has a wide range of family life Takaful products which are under the process of
being expanded at time of writing.
TTD has witnessed exceptional sales growth since inception and beyond initial
expectations which is an indicator of the strong need for family and corporate life Takaful
solutions in Saudi Arabia. TTD currently has 7 operational offices (male & female) covering
Jeddah, Riyadh, Dammam, Makkah and Hofuf while 5 more offices are to open before
the end of 2007.
Bank Aljazira and Prudential plc have signed a Memorandum of Understanding (MoU)
to acquire a significant stake in the joint venture with Bank Aljazira and to become the
largest individual shareholder for the venture and work is under way for the new entity
to be listed on the Saudi Arabian Stock Exchange (the Tadawul).
Takaful Re aims to play a leading role in the Takaful industry and promote Takaful as an
alternative Shari‘ah compliant solution.
Takaful Re is regulated by the Dubai Financial Services Authority (DFSA). It is rated ‘BBB’
(stable) by the rating agency Standard & Poor’s.
1st Saudi Insurance Summit 2006 Past Delegate Title profile
CEO/Director/Chairperson/
President
26%
35%
Insurance Manager
12%
Other
Middle Management
10%
17%
We have a selection of packages available but sponsorship and exhibition opportunities at the 2nd Saudi
Insurance Summit are strictly limited. So don't be disappointed. Please contact: Marie-Eve Cote -
Sponsorship Manager
Tel: +971-4-407 2715 • Fax: +971-4-335 0671 • Email: sponsorship@iirme.com