News18 Nov 2014

Middle East Insurance Industry Awards Salutes the Stars

18 Nov 2014

The stars shone at the 1st Middle East Insurance Industry Awards (MIIA) last night through extremely keen competition, showing that the industry has much to be proud of.

Companies across the region – including small and big players, local firms and MNCs – received top honours at the Awards, which were held to recognise and salute excellence in the industry.

MetLife was the winner of the Life Insurance Company of the Year, while AXA Gulf came in as the General Insurance Company of the Year and Aetna International was saluted as the Health Insurer of the Year.

The Reinsurer of the Year award went to Arig, while Hannover ReTakaful clinched the Retakaful Company of the Year award. In the brokerage categories, UIB was named the Reinsurance Broker of the Year while Aon Middle East came in as Broker of the Year. Clyde & Co was awarded Law Firm of the Year, while Milliman Middle East won the Service Provider of the Year award.

Home-grown players were not to be outdone, with awards going to Bahrain Institute of Banking and Finance (Educational Service Provider), National Health Insurance Company - Daman (Innovation) and Qatar Islamic Insurance Co (Family and General Takaful Companies).

On the individual side, Mr Fareed Lutfi, Secretary General of the Emirates Insurance Association, was feted as the Personality of the Year.

“As these are the inaugural awards, the winners bear a greater responsibility,” said Mr Sivam Subramaniam, Editor-in-Chief of Middle East Insurance Review, organiser of the Awards. “They have to stand tall and make an impact on the industry to do justice to the work of the judges and to fly the flag of the Awards.

“We dared to dream. And the industry delivered. Congratulations to all winners and may you make your mark on the history of the MENA insurance industry.”

The judging process and results were audited by independent auditor EY. The judging panel comprised 25 domestic, regional and international leaders in the insurance industry. There were some 200 entries in these first Awards.

The first-ever MIIA, organised by Middle East Insurance Review, was co-branded with the Dubai International Financial Centre and the results were announced at a gala dinner on 17 November in conjunction with the MENA Rendezvous in Dubai.

The winners this year are:

Life Insurance Company of the Year:   MetLife

General Insurance Company of the Year:   AXA Gulf

Health Insurer of the Year:   Aetna International

Educational Service Provider the Year:   Bahrain Institute of Banking & Finance (BIBF)

Law Firm of the Year:    Clyde & Co

Service Provider of the Year:   Milliman Middle East

Reinsurer of the Year:   Arig

Broker of the Year:   Aon Middle East

Reinsurance Broker of the Year:   UIB (DIFC) Ltd

Innovation of the Year:   National Health Insurance Co - Daman

Family Takaful Company of the Year:   Qatar Islamic Insurance Co

General Takaful Company of the Year:   Qatar Islamic Insurance Co

Retakaful Company of the Year:   Hannover ReTakaful

 Personality of the Year:    Mr Fareed Lutfi


The Judging Panel comprised:
MENA

Abdul Khaliq R Khalil, Secretary General, General Arab Insurance Federation (GAIF)

Dr Bassel Hindawi, former Insurance Commissioner, Insurance Commission of Jordan

Fahad Al-Hesni, Chief Executive Officer, Saudi Reinsurance Company

Fareed Lutfi, Secretary General, Emirates Insurance Association

Fateh Bekdache, General Manager, AROPE Insurance s.a.l.

Hammam M Badr, Secretary General, Federation of Afro-Asian Insurers & Reinsurers (FAIR)

Jason Light, Chief Executive Officer, Emirates Insurance Company (PSC)

Mahomed Akoob, Managing Director, Hannover Re Takaful

Mark Cooper, Director, Insurance, Reinsurance & Captives, Dubai International Financial Centre Authority

Dr Michael Bitzer, Chief Executive Officer, National Health Insurance Company – Daman

Robin Kevin Ali, Consultant, Health Funding Department, Dubai Health Authority

Steve Dixon, Managing Director, MENA, ACE Group

Walid Genadry, Head of the Insurance Control Commission, Ministry of Economy and Trade, Lebanon

Walid A Sidani, Chief Executive Officer, Abu Dhabi National Insurance Company

Yassir Albaharna, Chief Executive Officer, Arab Insurance Group

Younis Al Sayed, Chairman, Bahrain Insurance Association

INTERNATIONAL

Ashok Kumar Roy, Chairman-cum-Managing Director, General Insurance Corporation of India

Christian Kraut, Chief Executive, Middle East and Africa Munich Re

Geoff Riddell, Regional Chairman, Asia-Pacific, Middle East & Africa, Zurich Insurance Group

Dr Kai-Uwe Schanz, Special Advisor, The Geneva Association

Michael J Morrissey, President & Chief Executive Officer, International Insurance Society

Patrick Liedtke, Managing Director & Head of Financial Institutions Group – EMEA, BlackRock

Dr Peter F Hugger, Chief Executive Officer, Echo Reinsurance Limited

Dr Roger Sellek, Chief Executive Officer, A M Best - EMEA & Asia Pacific

Dr Sandy Scott, Director General, Chartered Insurance Institute.

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