DIFC Director General is keynote speaker at the 8th Middle East Insurance SeminarPress Release19 Apr 2005 12:12 pm
Dr Omar Bin Sulaiman, Director General, Dubai International Financial Centre Authority (DIFCA) gave the opening address at the 8th Middle East Insurance Seminar which took place in Dubai on 19th April in which he addressed around 400 senior delegates attending the first day of the event.
The seminar focused on 'Ensuring Supply in a Volatile World', and was organised and hosted by AON Corporation who brought together experts from top regional and global energy and petrochemical companies.
Dr Omar Bin Sulaiman welcomed the delegates and was pleased that such an important event should, once again, be located in Dubai.
“I was pleased to welcome such an impressive gathering of insurance professionals to Dubai for this important event,” he said.
“AON is a truly global corporation, and this annual seminar is now, without doubt, one of the most influential platforms in the world for the discussion of insurance related issues in our region.”
In his presentation, Dr Omar Bin Sulaiman highlighted the opportunities presented to the global insurance industry by the world’s newest capital market.
“The DIFC has already been identified as a potential hub for the burgeoning Middle East insurance market. AON of course, as well as other major insurance institutions Alliance Re & AIG are either licensed or applying to operate in the DIFC jurisdiction.
We predict that by 2010, the region covered by the DIFC, including the Indian subcontinent, the Middle East and Africa, will offer the prospect of a premium pool of some $80 billion. This is a substantial opportunity that the DIFC compounds by offering a world class regulated hub from which the world’s insurance and reinsurance institutions can operate from.”