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 Saudi Insurance Summit

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American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.  American Life Insurance Company (ALICO), which is a subsidiary of (AIG), and one of the largest international life insurance companies in the world market a wide range of life and health insurance products, including traditional, variable universal and credit life insurance, as well as supplemental medical and personal accident products, health and hospitalization insurance, group life, pensions and annuities through a variety of channels.
AIG & ALICO have been operating in Saudi Arabia since over 30 years ago.


Official Ratings Partner



Standard & Poor's Ratings Services is a global leader in providing credit ratings analysis and research.  With over ten trillion dollars worth of public and private securities rated worldwide, we are the world's pre-eminent provider of timely, objective credit information.  Our familiar letter-grade ratings symbols are trusted measures of credit quality worldwide.  Determined through our rigorous, analytical process, these ratings provide important benefits to borrowers, investors and counterparties alike.

Standard & Poor's Insurance Ratings group rates over 3500 insurance companies in over 70 countries.  This coverage is produced by a team of over 40 analysts, based in developed country and emerging market financial centres.  Our commitment to having credit professionals located in regional and local markets reflects the importance we give to local knowledge and analysis within the framework of our global methodology and world view.


Official IT Systems Partner





TechnoSys Group is a Regional IT company established since 1989 with exclusive focus on insurance automation.

TechnoSys Group designed and developed fully web-based solution called (AIMSweb) Advanced Insurance Management Suite – Fully web based  using latest technologies from Oracle and Java.

AIMSweb runs smoothly at (50+) insurance companies in (10+) countries and used by (3000+) users daily. TechnoSYs current expertise in man-power incorporates (200+) man-year of cumulative insurance expertise.

AIMSweb, version 8.1, just recently released to cover all needs of insurance companies in the fields of general, medical, life, reinsurance, finance, takaful, workflow, rule-engine, CRM, e-insurance-portal, and business intelligence; all are working in real-time on-line integration.

To support current and future customers in Saudi Arabia, TechnoSys has recently established a subsidiary company in Saudi Arabia (called HiQSys Saudi). Another subsidiary in UAE (called HiQSys Emirates) has just been established to support current and future insurance customers in UAE and Gulf markets.


Silver Sponsors


 

ALAHLI TAKAFUL COMPANY (ATC) is a newly licensed Insurance company based in Jeddah, Saudi Arabia and boasts long established successful financial services companies as its major partners and shareholders.

Founded on the principles of Takaful, ATC will manage these operations on behalf of the members combining its strong knowledge of the local market needs with International standards of service and support.

Shariah compliance, innovativeness and transparency in product design and distribution, along with strong corporate governance are all the hallmarks of ATC's culture and experience.

For further information on ATC please visit our official website at: www.alahlitakaful.com




 

Founded in Cyprus 1998, Chedid Re grew in a span of 10 years to be one of the leading reinsurance brokers in the areas of its operations. Chedid Re provides comprehensive insurance and reinsurance solutions to over 140 insurance companies throughout the Middle East, Africa, Europe and Asia. 

Chedid Re is managed by a strong team of insurance professionals, with highly specialized expertise available to provide reinsurance and retrocession, treaty and facultative support on risks ranging from standard to the highly complex ones in nearly every line of business.

Through Chedid Re and its sister company Chedid Corporate Solutions insurance companies, captives, and corporations can receive total end-to-end solutions, where Chedid Re group is geared to maintain its growth towards stronger market leadership.



Manar Sigma Financial Consulting is the leading actuarial services provider in Saudi Arabia and is licensed by SAMA. The company was established two years ago with its head office in Riyadh. The scope of expertise of its experienced actuaries encompasses both life and non-life work.

Manar Sigma is proud of the long-standing relationships which it enjoys with its clients.

The services provided encompass the following areas:

• Technical assistance with license applications for insurance companies, brokers, agents and third party administrators
• Actuarial certifications of reserves and profit testing
• Takaful
• Financial strength rating assessments

www.manarsigma.com




 

Founded in Cyprus 1998, Chedid Re grew in a span of 10 years to be one of the leading reinsurance brokers in the areas of its operations. Chedid Re provides comprehensive insurance and reinsurance solutions to over 140 insurance companies throughout the Middle East, Africa, Europe and Asia. 

Chedid Re is managed by a strong team of insurance professionals, with highly specialized expertise available to provide reinsurance and retrocession, treaty and facultative support on risks ranging from standard to the highly complex ones in nearly every line of business.

Through Chedid Re and its sister company Chedid Corporate Solutions insurance companies, captives, and corporations can receive total end-to-end solutions, where Chedid Re group is geared to maintain its growth towards stronger market leadership.



Heritage is a leading independent provider of insurance and specialist management services. For more than 30 years, our staff have provided insurance management (captives and other self insurance structures) and additional allied services, including fiduciary and fund administration to our customers on a global basis. The Group has in excess of 200 staff with representation in London, Guernsey, Jersey, Bermuda, Malta and Gibraltar. Through Heritage Kane Limited, we are in the process of opening offices in Bahrain and Dubai.  With the establishment of offices in the Middle East, Heritage will also be able to offer the provision of client specific enterprise risk management solutions.

For further information please contact Shaun Brook on +973 1750 2970






Actuaries & Consultants

Experience, Independence & Innovation

With more than 60 years, Milliman is one of the world’s largest independent actuarial and consulting firms. With offices in principal cities worldwide, Milliman integrates global expertise with local knowledge and management. We offer depth of knowledge, objective analysis and practical strategies for the evolving life insurance and financial services industry. Because we are independently owned, we can guarantee unbiased and uncompromising counsel. Our independence allows us to be innovative in problem-solving. We are free to develop solutions and technologies that perfectly align with clients’ goals. No conflict of interests or hidden agendas.
Our consultants serve a wide range of clients, delivering personalized service and unique combination of actuarial and business skills.

In recognition of the growing actuarial needs of the region, we are excited about establishing physical presence in the Dubai International Financial Center providing services in:
Life Insurance & Financial Services
Employee Benefits
Healthcare
Investment
Property & Casualty

www.milliman.com


Technology Partner




About 3i Infotech

3i Infotech (www.3i-infotech.com) provides a range of information technology solutions for insurance, banking & finance, Capital Markets, Mutual Funds, e-Governance, manufacturing, and retail & distribution. The company is SEI CMMI Level 5-compliant for its software business and ISO 9001:2000-certified for its Infrastructure Services and Business Process Outsourcing Operations.
•  Winner of Asia Insurance Industry Award for Service Provider of the Year, 2005 and
   2006. Only company to have won this award for the 2nd successive year in the
   “Services Provider of the Year” category
•  Winner of Service Provider of the Year at the 5th Annual Australian Banking & Finance
    - Insurance Awards function – 2007
•  Winner of Frost & Sullivan Product Innovation Award for Insurance solutions – 2006
•  Winner of Independent Software Vendor (ISV) Award from Oracle – 2007
•  Winner of Oracle Top Contributor in FSI (Financial Services & Insurance) Sector Award
    for ISV – 2006

(*)  Source: Dataquest Special Issue: Industry Overview (July, 2007)
(**) Source: Dataquest Special Issue: Industry Overview (July, 2005)


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