Oct 2018

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Source: Middle East Insurance Review | May 2018

SCOR Global P&C names chief underwriting officer for the EMEA treaty business
SCOR has promoted Mr Douglas Lacoss, previously chief reserving actuary at SCOR Global P&C, to chief underwriting officer for the EMEA treaty business. He replaces Mr Laurent Rousseau, now deputy CEO of SCOR Global P&C and part of the Group’s executive committee since 1 April.
   Mr Lacoss, a US citizen, joined SCOR in 2007 as head of the UK pricing team, and has held the role of chief reserving actuary for the worldwide business of SCOR Global P&C since 2013. He is the actuarial function holder for SCOR Global P&C SE and a member of the P&C leadership team.
   He started his career with American Reliable Insurance Company in 1990. After joining St Paul Re in New York in 1993 as a reserving actuary, he relocated to London in 1998 where he held various actuarial roles with the St Paul Companies, Swiss Re, and Converium. 

Zurich announces leadership transition in EMEA business
Zurich Insurance Group has announced that Mr Gary Shaughnessy will step down from his role as CEO EMEA and as a member of Zurich’s executive committee in the fourth quarter of 2018, while maintaining other duties at the Group. Ms Amanda Blanc, formerly from AXA, will succeed Mr Shaughnessy as CEO EMEA and as a member of the executive committee in the fourth quarter of 2018. 
   Ms Blanc was appointed group chief executive of AXA UK & Ireland in July 2016 having been CEO, AXA UK & Ireland general insurance since January 2016. She joined the Board of AXA UK & Ireland in 2011 when she was appointed CEO, AXA insurance commercial lines. She previously held various leadership roles in the commercial lines business from 1999 to 2003. 
   She rejoined AXA UK in 2011 from The Towergate Partnership where she was deputy group CEO responsible for the leadership of Towergate’s retail broking business.
   She sat on AXA’s global property and casualty board and led AXA’s global SME initiative. 
She is a member of the Board of the Association of British Insurers, currently chairs the Insurance Fraud Bureau and was President of the Chartered Insurance Institute.
   Mr Shaughnessy has decided to step down from a full-time role to ensure a balance of time devoted to health, work, family and personal commitments. 
   He will continue to serve as a member of various European subsidiary boards, including with Zurich Insurance plc, the Group’s main legal entity for writing non-life insurance business in Europe; as chair of Z Zurich Foundation, the unit which delivers the Group’s global community investment strategy; alongside other Zurich board memberships and as a strategic advisor to Zurich.

AIG announces new regional president for MEA
AIG has named Mr Steven Barnett as regional president of AIG Middle East & Africa (MEA) with effect from 1 April 2018. Mr Barnett, previously president & CEO of AIG Korea, will be based in AIG’s regional office in the DIFC.  
   As a member of the International Leadership Team, he will lead and cultivate a strategy for AIG MEA which will intensify its focus and investment in compelling innovative insurance products and services that meet the evolving needs of clients, as well as will drive the cultural, operational and digital transformation necessary to support this strategy. 
   Mr Barnett is a C-level insurance executive with over 30 years’ experience in different global geographies, including the UK and Asia Pacific. He joined AIG UK in 1992 as a casualty underwriter, before taking senior product management positions in the Asia Pacific region, first as regional casualty manager in Hong Kong (1997-2000) and subsequently in Bangkok (2000-2003). Since 2003, his senior leadership roles have included managing director & CEO of AIG Thailand (2003-2011) and president & CEO of AIG Korea (2011-2018).  
   AIG MEA, representing mainly emerging markets with significant opportunities for growth, is a part of AIG’s International Regional Framework and it consists of AIG’s operations in the Middle East, Africa, Russia, the joint venture operations in Saudi Arabia (MetLife AIG ANB) and India (Tata AIG). 

Marsh appoints CEO of Middle East and Africa region 
Marsh, a global leader in insurance broking and innovative risk management solutions, has appointed Mr Christos Adamantiadis as CEO for its newly-combined market of the Middle East and Africa, effective 1 May.
   In this role, Mr Adamantiadis will assume responsibility for all of Marsh’s operations across the Middle East and Africa, ensuring that clients have access to the full range of Marsh’s market-leading services and solutions. 
   He brings 25 years of management experience, most recently as CEO of Dubai-based Oman Insurance Company. Previously, he spent 20 years at AIG, overseeing its operations in several geographies including the Middle East, North Africa, Central and Eastern Europe, and Russia. 
   Marsh also announced the appointment of Mr Ayman El Hout as country leader for the UAE, effective 1 June. He will be based in Dubai and report to Mr Adamantiadis. He brings over 34 years of experience in underwriting and reinsurance roles in the region, most recently as deputy chief executive officer of Al Sagr National Insurance. Prior to this, he had held senior level positions at Medgulf Group, working across the Middle East.

Bahrain: Solidarity Bahrain appoints CEO 
Solidarity Bahrain, a leading insurance company in the Kingdom and a subsidiary of Solidarity Group Holding, has announced the appointment of Mr Jawad Mohammed as CEO.
   Mr Mohammed was formerly the general manager of the company. He has over 23 years of experience in the insurance industry and corporate management. 
   In a statement Mr Tawfeeq Shehab, chairman of the company said “Jawad’s appointment as CEO of Solidarity Bahrain, is a reflection of the Board’s confidence in his abilities to guide the company in the current challenging market environment”.
   The appointment came after the successful conclusion of the merger between Solidarity General Takaful and Al Ahlia Insurance Company. 

Jordan: Solidarity appoints new CEO
Solidarity First Insurance Co of Jordan has appointed Mr Ala’a Abdel-Jawad as its CEO with effect from March 2018. He joins the company coming from Jordan’s Medgulf Insurance Co where he served as general manager for the past seven years. 
   Prior to that, he served as the general manager of Jordan Emirates Insurance Co for about three years. Mr Abdel-Jawad has also held several leading positions in Jordan insurance market and was member of the board of Jordan Insurance Federation for several terms.

UAE: Oman Insurance welcomes new CEO
Oman Insurance Company (OIC) has appointed Mr Jean-Louis Laurent Josi as its new CEO, effective 1 April and subject to approval by regulatory authorities.
   Mr Laurent Josi, who succeeds Mr Christos Adamantiadis, joins OIC with renowned insurance expertise, astute strategic vision and remarkable achievements in his previous roles. For the past 12 years he held key executive positions in the AXA Group notably as executive committee member in Belgium, CEO in the Middle-East and CEO in Japan. In his most recent position, Mr Laurent Josi was CEO of AXA Asia and a member of the AXA Group management committee. 
   Mr Abdul Aziz Abdulla Al Ghurair, OIC’s chairman of the board of directors said: “We are confident that Mr Laurent Josi’s entrepreneurial leadership, local market knowledge and remarkable breadth of experience gained in both mature and emerging markets, will guide Oman Insurance towards significant milestones in the coming years.”
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