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Insurance Industry Heads Back To Basics

Interview: Nagib M. Bahous, President and Chief Executive Officer of MIG Holding, The Insurance Holding Company of the Mawarid group previously known as the ACE Group

The insurance industry landscape that has emerged from the turmoil of the financial crisis is different from what it used to be. Insurance and Reinsurance companies are back to the basics of writing business for profit. (Re) Insurers can no longer absorb underwriting losses from investment income. The overriding challenges are how to maximize the limited investment return and how to make underwriting profit.
Nagib M. Bahous, President and CEO of MIG Holding, The Insurance Holding Company...

Well Positioned To Grow

Khaled Faraj Al Saeid, Managing Director and General Manager of International Turnkey Solutions Company (ITS) on the left and Haitham Hani Abdou, Group Director, Marketing & Corporate Communication on the right

ITS is a leading international Islamic Banking solution provider that lives and breathes Islamic values and culture. The company has successfully combined this with its technology prowess to produce ‘ETHIX’, a next generation solution portfolio offering Islamic finance institutions Sharia-compliant products and a range of pre-defined business models including Islamic finance, Islamic investment, trading and delivery channels.” Hence, following an Omani royal decree in May authorizing the establishment of Sharia-compliant services, ITS took the initiative in holding the 1st Islamic...

Taking On The Arab World’s Challenge

Walid Jishi, Founder and Chairman of Arab Loss Adjusters Int’l Company

Walid Jishi, Chairman and Chief Executive Officer of Arab Loss predicted the chronic need for native loss adjusters in the Arab World who understand the political and cultural business environment to provide the service that was dominated by foreign adjusting practices. He believes that loss adjusting is a notable profession that involves various disciplines and knowledge. Loss adjusting framework encompasses investigation to evaluate the extent of damage

BL:As one of the leading Arab Loss Adjusters, what pushed you to start your company with a focus on the Arab industries?
Jishi: As...

How The Pioneers In Islamic Finance Continue To Set The Standards

Hussein Mohammed Salem Al Meeza, Managing Director & CEO of AMAN

Outspoken and prominent in the Islamic Banking and insurance industry, Hussein Mohammed Salem Al Meeza started his career in 1975 when he joined the world’s first fully fledged Islamic Bank, Dubai Islamic Bank. His landmark achievement was the establishment of Al Salam Banks. Al Meeza spoke to BUSINESS LIFE about his ongoing push to sustain a regulated industry.
Al Meeza started his career in 1975 when he joined the world’s first fully fledged Islamic Bank, Dubai Islamic Bank. His landmark achievement was the establishment of Al Salam Banks. Presently, he is the Managing Director and...

Saudi Tycoon Discusses Region, Challenges

Sheikh Saleh Abdullah Kamel, Chairman and founder of the Dallah al Baraka Group (DBG)

Sheikh Saleh Abdullah Kamel is a Saudi businessman, chairman and founder of the Dallah al Baraka Group (DBG). Chairman of ABG and he is also the chairman of the General Council for Islamic Banks. He is estimated to be worth about $5.3 billion, ranking number 12 on Arabian Business list of richest Arabs 2008.[ Most of Kamel’s business work focus on coded TV channels, trade and civil services. Under the current economic climate, Sheikh Saleh Kamel did not withdraw or pull back but on the contrary, he is still exploring new business opportunities and investing heavily in the banking...

Syria Builds on Growth in Insurance Sector

Firas El Azem, the Executive Manager of Al-Aqeelah Takaful Insurance Co.

Firas El Azem is an insurance expert who returned to Syria early 2006 after spending all his professional career outside the country. Although, he started his career in the banking sector, he quickly discovered re-insurance as the right career for him. He joined Munich Re in 1992 and remained with the company until 2006. He worked in Germany, Hong Kong and Malaysia. His last position before leaving the company was being the CEO of Munich Re’s Branch in Kuala Lumpur. He was one of the first Syrian nationals who returned to Syria after the opening and de-regulation of the Syrian insurance...

E-Takaful Is The New Buzzword

Younis Jamal Al Sayed, CEO of Takaful International Company

Younis Jamal Al Sayed, CEO of Takaful International Company began his career in 1981 and gradually learnt the various aspects of the insurance industry. ARIG had a significant bearing on his career portfolio as he successfully rose through the management hierarchy. Takaful is changing the face of the Middle East and Younis Al Sayed is in pursuit of his quest to find the ultimate formula for Takaful business.

BL: Younis Jamal Al Sayed, 2010 was a busy year full of financial events. I would like to start my interview with some personal questions, how did you build your business reputation...