18 February 2024
The Kingdom of Saudi Arabia participated with a high-level delegation of
officials and senior executives from the government and private sectors in the
34th Arab Insurance Federation General Conference.
The Saudi delegation is headed by His Excellency Naji Al-Faisal
Al-Tamimi, the CEO of the Insurance Authority. The conference was hold in the
Sultanate of Oman from February 18th to 22nd, 2024, under the auspices of the
Omani Capital Market Authority and organized by the Oman Insurance Association
and the Arab Insurance Federation, under the theme of sustainability and
inclusivity in the insurance sector. Engineer Naji Al-Faisal Al-Tamimi, the CEO
of the Saudi Insurance Authority, expressed his gratitude and appreciation to
the brothers in the Sultanate of Oman and the Arab Insurance Federation for
this gracious invitation to participate in the 34th General Conference of the
Arab Insurance Federation.
The conference aimed to develop the insurance industry, support the
expansion of economic cooperation, introduce joint investment opportunities in
the insurance sector, facilitate investment opportunities, streamline
procedures. It is also aimed to accelerate business growth by enhancing and
building local and international partnerships, exchanging experiences and
knowledge in the field of insurance industry.
His Excellency Eng. Naji Al-Tamimi explained that the insurance sector
system in the Kingdom receives great attention of the government of the
Custodian of the Two Holy Mosques as it is representing one of the promising
pillars of economic and development diversification, as it is currently
witnessing numerous qualitative initiatives and major developments that aim to
achieve a major shift towards developing the sector and expanding its economic
and developmental contributions in line with the goals of Kingdom's Vision
2030.
His Excellency noted that the Kingdom seeks, through its participation
in this conference, to confirm its leadership and global position in various
sectors, including the insurance sector. It is also ready to expand the
horizons of cooperation with member states of the General Arab Insurance
Federation by examining investment opportunities and sharing knowledge and
experiences.
The conference highlighted innovation in insurance field, the use of
artificial intelligence, and presenting emerging technologies and how insurance
companies could benefit from them to bring about a radical change in the Arab
insurance scene and reshape it with a focus on sustainability and
comprehensiveness.