February 2013 63 www.bahrainthismonth.com To take advantage of the opportunities available to them, those in the insurance market need to address a number of critical issues and implement strategies to sustain profitability. This month more than 500 leading players and key regulators are set to do just that right here in the Kingdom. The Annual Middle East Insurance Forum (MEIF) returns for its ninth edition with a remit to examine important challenges and assess extremely promising future prospects for the insurance market in the Arab world. A key platform to discuss new ideas to maintain growth momentum, the event also aims to look at ways to boost profitability in an increasingly competitive market. “Over the last nine years MEIF has established itself as the region’s largest and most influential annual gathering of industry leaders,” says David Mclean, MEIF chief executive. “Its importance in the calendar is evident from the year-on-year increase in support that the forum gets from both regional and international players.” The two-day event is set to begin with an inaugural keynote address by Abdul Rahman Mohammed Al Baker, executive director of financial institutions supervision at the Central Bank of Bahrain. Abdul Rahman will discuss how enhancing the regulatory framework can support the further development of the insurance industry in the region. “Given the current challenges of increasing competition, it is essential that we address key challenges and refine business models to build the foundation for an exciting and stable growth curve for the sector,” says the keynote speaker. Another special address will be presented by Enrico Bertagna, Lloyd’s head of Africa, Southern and Eastern Europe, and country manager for Italy. The session will focus on international insights and global trends and their implications for this part of the world. A major highlight at this year’s event will be the debating sessions which will focus on maintaining growth while boosting profitability. The debates aim to generate discussion on the event’s theme, ‘balancing growth with profitability: new strategies for the Middle East insurance industry’. Providing new research insights into buying patterns and behaviour, MEIF 2013 features an exclusive session led by Ernst & Young, who will report their findings of a global research project. The erstwhile firm of accountants interviewed 25,000 insurance consumers from around the world. “Last year’s edition saw a record year for us with 521 professionals representing over 180 leading organisations attending the conference. We see this as a testament to the importance that the MEIF plays in enabling a significant ongoing dialogue between the various stakeholders to keep abreast of key market developments,” David opines. MEIF is organised by Mega Events and supported by the Central Bank of Bahrain. E Call 17 744-898. Also this month 64 x Entrepreneur - 66 x Interview - 68 x Spotlight businessthismonth When? February 4-5 | Event? Forum | Venue? Gulf Hotel Insuring Growth Prospects In the September 2012 issue of Bahrain This Month we carried an interview with Alaa Al Shaikh, managing director at Beaucraft, who would like to clarify their involvement in the Durrat Marina project. “Beaucraft had an advisory role in the Yacht Club design, were consulted on the marina design and will have a role in the supervision of the marina installation,” says Alaa. “This clarification is to elaborate on Beaucraft’s exact role in the project, in relation to the work of other contractors and advisers.” Clarification Abdul Rahman Mohammed Al Baker Alaa Al Shaikh
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