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UAE: DIFC boosts insurance training via collaboration with Lloyd's, CII

Source: Middle East Insurance Review | Feb 2020

The DIFC has signed separate MoUs with two leading institutions to upskill talent and promote efficiency and improvement.
MoUs were signed with Lloyd’s, the world’s leading insurance and reinsurance marketplace, as well as UK-headquartered Chartered Insurance Institute (CII), with the aim of developing talent in the local insurance and reinsurance sector in line with global best practices.
As part of the collaboration, DIFC will join forces with Lloyd’s and the CII to develop a number of courses alongside the rollout of a series of events and programmes developed in partnership with the DIFC Academy. This collaboration is aligned with the strategic goals of DIFC to be a centre of excellence for insurance and reinsurance driven by an exceptional workforce, and will be the first range of certified insurance courses offered by the DIFC Academy.
Ms Alya Al Zarouni, EVP of operations at DIFC Authority said, “DIFC is committed to driving the future of finance by equipping the next generation of workforce with essential knowledge and qualifications. Our collaboration with leading entities including CII and Lloyd’s will enable us to provide an exceptional service to more than 100 active insurance and reinsurance firms. Our robust ecosystem and cluster economies allow us to accommodate multiple areas of practice in all life, non-life and Islamic practices.”
Commenting on the partnership, Ms Sonja Rottiers, Lloyd’s regional director for EMEA said, “The region is changing significantly and the need for training, development and expertise in the Middle East region is ever increasing. Through the MoU, we aim to create a mutually beneficial partnership whereby the specialist expertise of the Lloyd’s market is able to support the regional development of the insurance and reinsurance markets through bespoke training programmes, as well as to support the DIFC Authority’s ambition in becoming a major training, research and development hub for the industry.”
Ms Sian Fisher, CEO of CII said, “The world is becoming a smaller place and the regulatory framework is becoming more aligned, so the sharing of experience, common issues and good practice standards is an activity that the Chartered Insurance Institute must engage in, to create a vibrant international profession.”
As part of the DIFC’s efforts to support continued professional development and strengthen the regional talent pool, the DIFC Academy offers financial and legal education through strategic partnerships with 26 leading educational institutions and government entities. To date, the DIFC has seen more than 5,500 graduates successfully undertake executive education courses and programmes in finance, business and law, as well as two dedicated Masters of Law programmes. M 
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