Discussion on New regulations issued recently by the Insurance Authority imposed on Insurance Brokerage Companies operating in UAE
Speakers
- Mr. Nael Abu Farha is the legal adviser in the UAE Insurance Authority
- Mr. Michael Kortbawi - Partner, Corporate and M&A and Insurance & Reinsurance – BSA
- Ms. Rima Mrad - Partner, Corporate and M&A, Insurance & Reinsurance – BSA
Discussion on PROPERTY INSURANCE – MARKET CHALLENGES
This event was aimed with the view of recent fire incident which has brought tremendous loss for the industry at large. This event was supported by presentation and panel discussion by below distinguished speakers from Reinsurance, Loss Adjuster / Surveyor and Risk Engineering field followed by Panel Discussion and Audience Interaction.
Areas covered:
- Construction Materials – Specific focus on Claddings.
- Implementation of recent directive of compliance of Civil Defense Certificates.
- STRATA requirements – Insured Parties.
- Recent Directives on Home Contents Insurance.
Speakers
- Mr. Hermann Frankfurt - Manager Risk Engineering; DP World (Insurance Department)
- Mr. Walid H. Jishi - Group Chairman and Managing Director; Arab Loss Adjusters Int'l LLC
- Mr. Mahomed Akoob - Managing Director; Hannover Re Takaful B.S.C., Manama, Bahrain
Insurance Business Group (IBG) conducted a “Blood Donation Campaign” in collaboration with Dubai Blood Donation Centre. It was an initiative aimed at fostering the principles of social responsibility, promoting humanitarian and health values, and raising employees awareness of the importance of taking part in health programs aimed at embedding these values and contributing to saving the life of other peoples.
The campaign aims to highlight the need from people whose lives have been saved through blood donation, as a way of motivating regular blood donors to continue giving blood and people in good health who have never given blood, particularly young people, to begin doing so with the inspiration to donate the blood for saving lives of those who are in need of blood in emergency accidents, during periodic surgery or blood transfusion to “Thalassemia” patient every day.
On behalf of Insurance Business Group (IBG) we would like to take this opportunity to sincerely thank all for taking out time from their busy schedule to become a valuable part of our ‘Blood Donation Campaign’. We have received a good turnout of donors in this campaign which is encouraging for all of us. We express our deepest gratitude to all generous donor for their support and continued cooperation to help those in need. Blood donation is the act of giving life. Our one hour spent in donating the blood is going to give life to someone in need. Our blood could save anyone from a little baby to an old individual. One cannot make blood, it is a gift we all have inside of us to give to those who are injured, sick, or in need. There's no doubt that the need is huge. However, the support of donors is helping us to make it possible to help the people in achieving a healthier, happier and fruitful life.
In spite of the various reasons, for donating blood and encouraging others to do it, there are only few who actually do it. We would like to thanks once again to all for being a part of this group. The act of noble kindness of volunteering blood donation will serve as an inspiration to other people. We are looking forward to conduct again our next ‘Blood Donation Campaign’ sometime soon.
Discussion on new regulations issued last year for Insurance Companies
This event was aimed with the view of the new regulations issued last year for Insurance Companies operating in UAE by the Insurance Authority followed by Panel Discussion and Audience Interaction..
Areas covered:
- Rating agency views on the new regulations
- Law firms views on the legal aspects
- Actuary views on the Financial Aspects
Speakers
- Mr. Kevin Willis – Standard & Poor’s
- Mr. Peter Hodgins – Clyde & Co.
- Mr. Omer Morshed – Sidat Hyder Morshed Associates (Pvt) Ltd.
Dear Member,
Please find below a presentation of our recent event “Overview of Dubai’s mandatory Health insurance” held on 5th June 2016.
This event was well attended by IBG members and IBPC members both.
Best Regards,
Aftab Hasan; Dip (M&A), BSc(Eng), MBA (IIBM)
Secretary-General
www.youtube.com/Mraftabhasan
Our workshop was aimed with the view of recent cyber-attacks happening more often, and to more devastating effect, businesses now see cyber insurance as an essential way of responding to and managing the cyber threat. Huge opportunities exist for insurers in this market but there are many practical concerns when developing a cyber-product. The risks are more challenging and complex to underwrite and recent legislative changes will impact how data is protected and how breaches are reported by all types of businesses.
Below Executives from respective companies conducted the workshop:
1. Ms. Aisling Malone - Professional Indemnity and Cyber Lead, MENA, AIG, MEA LTD.
2. Mr Amar Shah - SEO, Risk Exchange ( DIFC) Limited, Dubai, UAE )
Dear Respected Colleagues & Friends,
Greetings!
Please to invite you & your colleague to our upcoming Speaking Event - Seminar in association with Insurance Authority & DHA organized by Insurance Business Group (IBG) on Cabinet Resolution No. (7) of 2019 concerning administrative fines imposed by IA and Executive Council Resolution No. 7 of 2016 imposed by DHA to be held on Monday, 29th April, 2019. This will be a good opportunity for our industry colleagues to know the nitty-gritty of these administrative fines & related compliance issues faced in our day to day operation.
This is free to attend event Sponsored by Insurance Business Group only for insurance industry professionals whereas seats are limited to a maximum of 2 persons only from one company on first come first serve basis.
Please make it convenient to attend the event as per schedule.
Best regards,
Aftab Hasan
Dear Industry Colleagues,
We are pleased to announce that INSURANCE BUSINESS GROUP (IBG) registered under the auspices of Dubai Chamber of Commerce & Industry is organizing a Speaking Event (Seminar) in Dubai on Tuesday, 10th September 2019 from 11.00 am to 1.00 pm followed by lunch. The objective of this seminar is to provide awareness and cognizance to the industry participants on Practical considerations for the scope & the implication of International Financial Reporting Standards (IFRS 17) being mandated for the insurance company’s operating in the region.
There will be an experts panel discussion on the future of financial reporting by distinguished Speakers for this event.
Mr. Vasilis Katsipis from A.M. Best and Mr. Dimitris Dimitriou from Deloitte will deliver their presentation on the above topic followed by Q&A session.
This seminar will provide valuable technical interpretations, practical insights, and strategies to overcome challenges in implementation or applying the standards.
The above speakers will discuss topics including:
•Key updates and amendments to IFRS 17 from previous standards.
•Transitional considerations of IFRS 17.
•Impact of current market condition on the global insurance/reinsurance industry.
•Lessons from the past, analyzing the periodical difficulties of applying IFRS 15 and IFRS 16
•Finally, we will discuss anticipated developments in managing the financials including the changing face of the statement of profit & loss, and the increasing importance of non-GAAP measures, the updated treatment of intangible assets and business combinations.
Speaking Event
Dear Industry Colleagues,
We are pleased to announce that INSURANCE BUSINESS GROUP (IBG) registered under the auspices of Dubai Chamber of Commerce & Industry is planning to host a WEBINAR titled ‘Business Interruption and the COVID 19: Things to Know’ which will focus and evaluate the challenges faced under this class of risk in the context of pandemic related claims under this policy.
Overview
Business interruption insurance (also known as business income insurance) is a type of insurance that covers the loss of income that a business suffers after a disaster. The income loss covered may be due to disaster-related closing of the business facility or due to the rebuilding process after a disaster. In response to ongoing financial distress caused by COVID-19, many businesses have tried to make claims under their business interruption policies and ended up in legal dispute due to ambiguity on the coverage. In this webinar, we will address the latest issues surrounding business insurance and COVID19.
This Webinar will be attended by insurers, reinsurers, brokers, TPA, actuaries & loss adjusters which will focus on the following key discussion points:
- who is buying business interruption insurance and why?
- why pandemic-related losses are typically excluded from BI policies?
- what to know about possible litigation during this pandemic?
- how agents can assist clients through this crisis?
- what could be in commercial properties for pandemic-related coverage in the future?
- Etc….
Keynote Speaker:
David Way – Senior Vice President, Power & Infrastructure at Lockton Dubai
He is an insurance adviser and broker for over 35 years, now specializing in technical risk analysis and insurance consultancy for Infrastructure clients around the world, especially in the Middle East and Europe. Consultant to several major companies with extensive knowledge of insurance and risk management requirements of the Infrastructure and Power sector, especially projects that are debt-financed. He also works closely with Investment Funds and PE managers for DD work and advice on M&A and risk/insurance for their investee companies. He is a Fellow of the Chartered Insurance Institute ("FCII"), He often write and contribute to many insurance industry publications and also lecture on various insurance subjects including business interruption, risk management, and insurance requirements of Infrastructure projects, including joint authorship of the industry textbook on "Insurance of Revenue for Projects under Construction" published by the Insurance Institute of London.
Date: 14th October 2020
Time: 04:00 PM – 05:00 PM
Speaker Presentation: 04:00 PM – 4:30 PM
Q & A Session: 04:30 PM – 05:00 PM
Please block your diaries for this valuable webinar which will provide you an opportunity to ask questions directly from the Speaker and clarify your doubt on the challenges faced under Business Interruption.
Kind Regards,
Aftab Hasan – Secretary-General
Insurance Business Group (IBG)
Dubai - UAE
T : 04 - 42 33 817 Ext. 110
M : 052 - 99 33 630
Email: aftab.hasan@ibguae.com
Web: www.ibguae.com
Dear Friends & Colleagues,
Hope you are keeping healthy & safe during this global pandemic.
Insurance Business Group (IBG) is organizing a WEBINAR on Tuesday, 16th March 2021 from 04:00 PM to 05:00 PM titled ‘Reinsurance Outlook Post COVID-19’ which will focus and evaluate the challenges faced to Reinsurance Industry in the context of an ongoing pandemic where the uncertainty around ultimate losses from the pandemic remains a potential threat for the industry.
Keynote Speaker & Presenter:
Mr. Vasilis Katsipis,
General Manager, Market Development
AM Best for MENA, South & Central Asia
Moderated By:
Mr. Aftab Hasan
Chairman – Risk Exchange DIFC Ltd.
CEO – Arya Insurance Brokerage Co. (LLC)
Secretary-General – Insurance Business Group (IBG)
Panel Discussion Contributors:
Dr. Abdul Zahra A. Ali
CEO – National General Insurance Co. (NGI)
Chairman – Insurance Business Group (IBG)
Mr. Walid H. Jishi
Chairman – Arab Loss Adjusters Int’l L.L.C.
Vice-Chairman – Insurance Business Group (IBG)
Mr. George Kabban
CEO – UIB (DIFC) Ltd
Chairman – DIFC Insurance Association
Board of Director of the Insurance Business Group (IBG)
Mr. Fareed Lutfi
Secretary-General – Emirates Insurance Association
Secretary-General – Gulf Insurance Federation
Insurance Business Group (IBG) is pleased to notify members that the Annual General Meeting will be held will be held virtually on Sunday; April 11th, 2021 at 3.00 pm to transact the following business:
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1. |
Review and briefing of last year's activities and approval of the Minutes of the AGM. |
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2. |
Review and Approval of the Audited Accounts for the year ending 31st December 2020. |
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3. |
Appointment and Approval of the Auditor for the Financial year 2021. |
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4. |
To elect the 13 members to the Administrative Board of Insurance Business Group (IBG) for the period April 2021 to March 2023. |
Please make sure that your nomination is only valid as per IBG Constitution which will be approved by the Dubai Chamber of Commerce & Industry (DCCI) if the membership fee is paid for the current year. Only those members, who are on the register of members of IBG as on 30th March 2021, shall be entitled to nominate, attend and vote at such General Meeting. Kindly arrange to pay your annual membership subscription for the year 2021 before 30th March 2021.
Members interested to contest in the election for the new Administrative Board & Governing Council should send their self-nomination on or before 30th March 2021.
- along with the following documents:
- Short Synopsis of their credential
- Valid Passport Copies
- Valid Emirates ID
- Recent Passport size Photo
- Self-Nomination Letter expressing their interest to join IBG; Representative Committee Members / Board of Directors.
- Members contesting the election to the new Administrative Board & Governing Council may withdraw their candidature by sending a written communication to the Secretary-General on or before 30th March 2021.
Please make it convenient to attend the Annual General Meeting.
With Best regards,
Aftab Hasan
Secretary General
______________________________________________________
Note:
Quorum for the Annual General Meeting shall be one-fourth of the total members present in person at the Annual General Meeting. In case of absence of Quorum, the meeting shall be adjourned and reconvened at the same time whereupon the members present shall constitute the quorum.
Please tick the appropriate Box below.
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I will be attending the AGM |
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I nominate the following person as my Proxy for the AGM |
Member Name……………………………………………………………..
Company Name…………………….………………….………………….
Please send your confirmation on:
Email: secretary@ibguae.com
Email: sathappan.sk@howdenuae.com
Dear Industry Colleagues,
We are pleased to announce that the INSURANCE BUSINESS GROUP (IBG) registered under the auspices of the Dubai Chamber of Commerce & Industry is organizing a Panel Discussion Hybrid Event on Solvency and M&A Opportunities in MENA. This event will be webcasted live to registered participants throughout MENA.
SPEAKERS
- Vasilis Katsipis - General Manager - MENA - AM Best Rating Services
- Simon Dodsworth - Head of Specialty, Senior Vice President - Lockton (MENA) Limited
PANEL DISCUSSION MODERATED BY
- Peter Englund - Senior Executive Officer, Head of Commercial Insurance Middle East - Zurich Insurance Company Ltd
PANEL TEAM
- Dr. Abdul Zahra A. Ali - CEO - National General Insurance Co. (NGI) - Chairman – IBG
- Vasilis Katsipis - General Manager - MENA - AM Best Rating Services
- Simon Dodsworth - Head of Specialty, Senior Vice President - Lockton (MENA) Limited
- Rajesh Sethi - CEO - Dar Al Takaful PJSC
PROGRAMME SCHEDULE
11:00 AM to 11:30 AM
Registration & Networking
11:30 AM – 12:10 PM
Speakers Presentation & Panel Discussion
12:10 PM – 1:00 PM
Q & A
1:00 PM onwards
Lunch
Dear IBG Members,
Insurance Business Group (IBG) is pleased to notify its members that the Annual General Meeting will be held In-Person on Tuesday; April 19th, 2022 at 5.00 pm and Virtually to transact the following business:
- Review and briefing of last year activities and approval of the Minutes of the AGM.
- Review and Approval of the Audited Accounts for the year ending 31st December, 2021.
- Appointment and Approval of the Auditor for the Financial year 2022.
- Any other business with the permission of the Chair.
Notes:
- Please make sure that your nomination is only valid as per IBG Constitution which will be approved by Dubai Chamber of Commerce & Industry (DCCI) if the membership fee is paid for the current year. Only those members, who are on the register of members of IBG as on 30th March 2022, shall be entitled to nominate, attend and vote at such General Meeting. Kindly arrange to pay your annual membership subscription for the year 2021 before the AGM if it is still outstanding.
- Quorum for the Annual General Meeting shall be 50% of the total members present in person at the Annual General Meeting. In case of absence of Quorum, the meeting shall be adjourned and reconvened immediately whereupon the members present shall constitute the quorum.
- Venue of the AGM: Swissôtel Al Murooj
Please let us know if you will be able to attend the AGM:
- I will be attending the AGM
- I nominate the following person as my Proxy for the AGM:………………
Look forward to hearing from you.
Greetings IBG Members,
We are happy to announce that the Insurance Business Group is carrying out its Annual Blood Drive this week. Therefore, please share this with your colleagues or HR department and support the insurance community. For event details please see our LinkedIn post:
https://www.linkedin.com/events/ibgannualblooddrive6910178872537882624/
Event details:
- March 22nd – NGI Building, Deira – DHA Mobile Van
- March 25th - Fidelity United Insurance Building, Business Bay – DHA Mobile Van
Incase anyone from your organization would like to donate blood please contact us or visit us at any of the DHA mobile van sites.
Furthermore, please show your support by liking our IBG LinkedIn page: https://www.linkedin.com/company/ibguae/
Thanks for your support!!
We are pleased to inform you of our upcoming online webinar next week on July 5th at 4pm. The topic in discussion will be “WHAT IS SHAPING THE FUTURE OF LEADERSHIP POST COVID”.
We have the following C-Level executives who will be discussing important leadership styles, strategies and their personal experiences:
- Lavanya Mundayur COO of New India Assurance
- David Austin CEO of Visionary Insurance Ltd
- John Tothill Company Secretary of HSBC Bank Middle East
We are pleased to inform you of our upcoming webinar today called: FUTURE TRENDS IN THE MOTOR INSURANCE INDUSTRY. Please join us at 5pm via the Zoom link below and share this webinar with all your motor colleagues.
We have the following speakers discussing important motor trends in the UAE:
1. Avinash Babur - CEO and Founder at InsuranceMarket.ae
2. Julien Audrerie - Head of Consumer Lines for Oman Insurance
3. Khalid H Jishi - CEO of Arab Loss Adjusters
4. A. Mohan - Head of AUH Branch for New India Assurance
Greetings from the Insurance Business Group. We are pleased to invite you to our next IBG event called: Pros and Cons of The DIFC Courts Jurisdictional Clauses in (Re) Insurance. The event will be hosted at Swissotel Al Murooj at 11am on May 19th 2022.
The Keynote speaker is The Honorable Chief Justice Zaki Azmi of the DIFC Courts along with the following speakers:
- George Kabban – CEO of UIB DIFC and Board Member of IBG
- Peter Englund – CEO of Zurich Middle East and Board Member of IBG
- Rajesh Sethi – Board Member of IBG
- Peter Ellingham – Partner at Kennedys
- Simon Isgar – Partner at BSA
Greetings from the Insurance Business Group. We are pleased to invite you to our next IBG event called: REVITALISING THE HEALTH INSURANCE MARKET: ACHIEVING PROFITABILITY WHILE IMPROVING POPULATION HEALTH.
The event will be hosted at Swissotel Al Murooj Dubai at 10am on September 14th 2022.
The Keynote address and Panel Moderator is Robin Ali Head of Practice at Consilient along with the following speakers:
- Dr Mahdi Attya, Chief Commercial Officer of Trudoc
- Sumit Kapur, Employee Benefits Director – VP of Lockton
- Dr. Nabil A Amin - Senior Manager - Medical Claims and Provider Network of NGI