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Dec 2022

UAE: DIFC Insurance Association enters new era with leadership changes

Source: Middle East Insurance Review | Sep 2022

As post-COVID recovery continues worldwide, the DIFC Insurance Association (DIFCIA) is set to enter its next stage of evolution and embrace the future with ‘DIFCIA 2.0’.
 
This transition comes at just the right time and will bring fresh vigour to the DIFCIA’s activities while seeing the new leadership take the reins to guide the association into the future.
 
Having completed his full two terms in office as elected chairman of the board, and as per the association’s Charter that allows the chairman to run for no more than two terms of two years, Mr George Kabban has passed the baton to the newly elected chairman, Mr Peter Englund of Zurich Insurance.
 
In addition, current CEO Bassel Hindawi has officially announced his resignation at the association’s recent virtual AGM held on 25 July. The DIFCIA will put out a call for expressions of interest for Dr Hindawi’s replacement in the paid position of CEO, reporting to the new board of directors. In the meantime, Dr Hindawi will stay on in his role for one quarter to ensure a smooth transition.
 
The association also welcomes a new addition to its board of directors – Mr Ahmed Rajab of Shields Reinsurance Brokers, replacing Mr Bilal El Hoss.
 
With the global economy going through a period of significant uncertainty, the association’s new leaders are looking to navigate the complex business landscape and strengthen the DIFC’s position as a leading insurance and reinsurance hub for the region and beyond.
 
Mr Kabban said, “I was a founding board member of the Association having envisioned the need for this industry association even before its conception and am honoured to have subsequently been elected to serve as its chairman for the maximum term of four years. I am delighted that Peter Englund will take over my role as chairman. Peter’s leadership and passion for our industry and the region will serve our community well, while I continue my active support of the association through UIB’s continued full membership.”
 
Mr Englund said, “I am delighted to take over the chairmanship of the association. Despite the many challenges faced, the DIFC insurance community has proven its resilience and solid foundation. We are now at a critical juncture in our development and ready to raise the bar yet again. I thank both Mr George Kabban and Dr Bassel Hindawi for their excellent contribution and service over the years.” M 
 
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