MENA & GCC - MENA: GAIF to discuss setting up Arab risk management council

Source: Middle East Insurance Review | Nov 2015

The General Arab Insurance Federation (GAIF) will discuss the establishment of a council of Arab insurance and risk management, as part of an overall strategy for the management of risk by insurance companies, said the organisation’s Chairman, Prof Mohamed Ghazy.

Prof Ghazy, who is also Chairman of the Board & Managing Director of Misr Life Insurance Company, said that he would submit a proposed strategy on this to the GAIF board at its meeting in December, reported Al Mal News.

It is proposed that all the heads of regulatory bodies in the different Arab countries be represented on the council and that risk management boards be formed in each nation that will develop strategies to manage risks according to the circumstances of each state and the general strategy agreed upon in GAIF. The council will look into risks faced in commercial insurance offered by insurance companies, and in social insurance schemes provided by governments.

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.