2 Saudi Insurance

28 – 31 October 2007 Jeddah Hilton Hotel, Jeddah, Saudi Arabia
Remember to quote your VIP Code when registering to be entered into a draw to WIN US$ 250 Dubai Duty Free Vouchers.

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Summit

FIVE WAYS TO REGISTER
+971-4-3352437 IIR Holdings Ltd. P.O Box 21743 Dubai, UAE +971-4-3352438 register@iirme.com

2 Saudi Insurance
28 – 31 October 2007
Jeddah Hilton Hotel, Jeddah, Saudi Arabia
AK0304
US$ 995 / SAR 3,781 US$ 1,695 / SAR 6,441 US$ 995 / SAR 3,781

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GCS/IIR Holdings Ltd. P.O Box 13977 Muharraq, State of Bahrain

www.insurancesaudi.com
Yes, I want to register for the Saudi Insurance Summit
Pre-Summit Workshop Saudi Insurance Summit Post-Summit Workshop Discounts Book Two-Day Summit + 1 Workshop Save US$ 200 US$ 2,490 / SAR 9,462 US$ 3,185 / SAR 12,103 Book Two-Day Summit + 2 Workshops (entire event)Save US$ 500 Early Bird Discounts Book the entire event before 12 August 2007 Save a further US$ 200 US$ 2,985 / SAR 11,343 US$ 3,085 / SAR 11,723 Book the entire event before 2 September 2007 Save a further US$ 100 28 October 2007 29 – 30 October 2007 31 October 2007

Summit
Ministry of Health, KSA Swiss Reinsurance Company, Switzerland AIG, UAE Institute of Banking (SAMA), KSA Takaful Re, Bahrain Arab Insurance Group (ARIG), Bahrain Takaful Ta’awuni - Bank Aljazira, KSA Saudi Arabian Monetary Agency (SAMA), KSA Council of Cooperative Health Insurance (CCHI), KSA Jadwa Investment Company, KSA BUPA Middle East, KSA Arabian Company for Insurance & Reinsurance Brokers (AMS), KSA The Law Firm of Majed M. Garoub, KSA Bahrain Monetary Agency, Bahrain University of Durham’s School of Goverment and International Affairs, UK

The Premier Insurance Industry Event For Saudi Arabia
Including key contributions from:
Hammad & Al Mehdar, KSA The Company for Cooperative Insurance (NCCI), KSA The Alliance of Abbas F. Ghazzawi & Hammad & Al-Mehdar, KSA Medgulf, KSA BMG Financial Advisors, KSA Manar Sigma Financial Consulting, KSA Lebanese Insurance Brokers Syndicate, Lebanon MedNet Holding GmbH (a Munich Re

Registration for the Summit gives you free access to the Gala Dinner!

For further information and Group Discounts contact +971-4-3352483 or email: info@iirme.com Fees include documentation, luncheon, refreshments and a certificate of attendance

PERSONAL DETAILS
Title 1st Delegate 2nd Delegate 3rd Delegate 4th Delegate To assist us with future correspondence, please supply the following details:
Head of Department Training Manager Booking Contact

First Name

Surname

Job Title

Department

Email

Group Company), GCC Muhanna & Co., Lebanon KPMG Al Fozan & Al Sadhan, KSA Unicorn Investment Bank, Bahrain Doha Bank, Qatar The Chartered Insurance Institute, UK King Abdul Aziz University, KSA Oxford Business Group, UAE

Take Advantage Of The Most Comprehensive Insurance Event In Saudi Arabia:
• Over 30 Regional And International

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A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event.You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges.All payments should be in favour of IIR Holdings Ltd.

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Expert Speakers • Over 20 Powerful Sessions • Four Interactive Panel Discussions

• Two Practical Workshops • Exclusive Gala Dinner • Ample Networking Opportunities With Key Decision Makers

PLUS! Two Practical Workshops:

1
Hotel & Accommodation Details
Jeddah Hilton Hotel, Jeddah, Saudi Arabia Tel: +966-2-6590000 Fax: +966-2-6591111 We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience.You can contact the IIR Hospitality Desk for required assistance on: Tel: +971-4-4072693 Fax: +971-4-4072517 Email: hospitality@iirme.com

Pre-Summit Workshop: Principles

Of Islamic Insurance

Cancellation
If you are unable to attend, a substitute delegate will be welcome in your place. If this is not suitable, a US$ 200 service charge will be payable. Registrations cancelled less than seven days before the event must be paid in full.

Takaful Structures And Shari’ah Compliance
Post-Summit Workshop: Mind

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2 Saudi Insurance
28 – 31 October 2007
Jeddah Hilton Hotel, Jeddah, Saudi Arabia

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Summit
Adli Hammad, Senior Partner Hammad & Al Mehdar, KSA Ahmed A. Al-Shalan, Vice President – Marketing & Sales The Company for Cooperative Insurance (NCCI), KSA Andreas Haberbeck, Barrister The Alliance of Abbas F. Ghazzawi & Hammad & Al-Mehdar, KSA Ayman El Hout, Deputy General Manager Medgulf, KSA Basil Al-Ghalayini, CEO BMG Financial Advisors, KSA Chris Symeonidis, CEO Manar Sigma Financial Consulting, KSA Elie Ziadé, President Lebanese Insurance Brokers Syndicate, Lebanon Fahad A. Al-Hesni, Vice President – Property & Casualty The Company for Cooperative Insurance (NCCI), KSA Dr. Frank Mayer, Regional Managing Director MedNet Holding GmbH (a Munich Re Group Company), GCC Ibrahim Muhanna, Futurist Muhanna & Co., Lebanon John Elkaas, Senior Director KPMG Al Fozan & Al Sadhan, KSA Khalil Ghneim, Senior Director – Takaful Unicorn Investment Bank, Bahrain Manoj Kumar, Head of Bancassurance Doha Bank, Qatar Mark Greenwood, Head of Regional Business Development – Middle East The Chartered Insurance Institute, UK Dr. Mohamed Ali El-Gari, Professor of Islamic Economics King Abdul Aziz University, KSA Oliver Cornock, Regional Editor Oxford Business Group, UAE Reda Khalil, Senior Minister Advisor Ministry of Health, KSA Safder Jaffer, Client Markets Europe – Middle East Turkey & Pakistan, Western & Southern Europe Swiss Reinsurance Company, Switzerland Paul Sterckx, Assistant Vice President – Financial Lines Arabian Region AIG, UAE Mohamed El Dishish, CFO Takaful Re, Bahrain Ian Hayward, Director – Life and Medical Arab Insurance Group (ARIG), UAE Chakib Abouzaid, CEO Takaful Re, Bahrain Rodney Wilson, Director of Post Graduate Studies and Professor of Economics University of Durham’s School of Goverment and International Affairs, UK Dr. Majed Mohammed Hussain Garoub, Chairman The Law Firm of Majed M. Garoub, KSA and Chairman The Saudi Law Training Centre, KSA Sheikh Nizam Yaquby, Shari’ah Board Member Bahrain Monetary Agency, Bahrain Ian Wilson, FIIC, MBA, Head of Insurance Programs Institute of Banking (SAMA), KSA

The Premier Insurance Industry Event For Saudi Arabia
Hear From Over 30 High Profile International And Regional Speakers:

HE Dr. Muhammad Al-Jasser Vice Governor Saudi Arabian Monetary Agency (SAMA), KSA

Dr. Abdullah I. Al Sharif General Secretary Council of Cooperative Health Insurance (CCHI), KSA

Ali A. Al Subaihin Board Member and CEO The Company for Cooperative Insurance (NCCI), KSA

Brad Bourland Chief Economist Jadwa Investment Company KSA

Dr. Omar Fisher Managing Director – Takaful Unicorn Investment Bank Bahrain

Talal Hisham Nazer Managing Director BUPA Middle East, KSA

Dr. Adham Jaad Dawood Taylor CEO Group Head Arabian Company for Insurance Takaful Ta'awuni - Bank Aljazira KSA & Reinsurance Brokers (AMS) KSA

By attending this top-level, cutting edge event you will:
• Understand how ongoing economic developments affect the Saudi Arabian insurance industry • Determine the impact of new insurance companies entering the market • Discover the roles of the Saudi Arabian reinsurance and Retakaful industries now and in the future • Learn international insurance best practices and how to reach them • Determine the current state of medical care in Saudi Arabia and how compulsory health insurance will impact it • Understand the growing trend of bancassurance as a viable option for insurers • Identify the principles and structures of Takaful insurance • Examine the level of insurance expertise within the Kingdom and how it can be improved
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2 Saudi Insurance
28 – 31 October 2007

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Summit
The pre-summit workshop Principles Of Islamic Insurance – Takaful Structures And Shari’ah Compliance will provide delegates with the principles and structures of Islamic insurance as well as the significant Shari’ah implications. The post-summit workshop Mind The Gap! How Can We Bridge The Insurance Skills Shortage? will explore the skills gap with participants and discuss strategies to bridge the skills gap within this growing insurance industry so to be more competitive with the expertise found in more mature markets. The Saudi Arabian insurance industry is in a state of transition and this is your chance to take advantage of the opportunities in this growing market. I look forward to welcoming you to the 2nd Saudi Insurance Summit, where all the main protagonists of this industry will be found. Yours faithfully,

Dear Insurance Professional,
It gives me great pleasure to present to you the 2nd Saudi Insurance Summit, the premier annual insurance event for Saudi Arabia, taking place at the Jeddah Hilton Hotel on 28 – 31 October 2007. The Saudi Arabian insurance industry is experiencing considerable expansion. The Saudi Arabian Monetary Agency (SAMA) continue to develop the insurance industry through market liberalisation, with the central bank approving 26 local and foreign insurance companies to launch operations in the Kingdom and 10 applications under review. Many believe the new laws and new licensed companies will boost confidence in the industry by curbing the activities of unlicensed companies and some are predicting a double in insurance market turnover over the next five years. There is a general consensus among insurance experts that this rapid growth has been catalysed by two regulatory changes within the non-life insurance segment in the Kingdom. One is the promulgation by SAMA of the Co-operative Insurance Companies Supervision Act which provided the first formal regulatory structure for the insurance market in Saudi Arabia, and the other is the new law making it mandatory for all expatriate workers to be health insured by their employers. The 2nd Saudi Insurance Summit will tackle all the current issues and developments, including these significant regulatory issues, through a series of presentations and panel discussions. There will be ample opportunity for you to address your questions to each of the high profile professionals participating in this important industry event. In addition to the exclusive two-day summit, there are two practical workshops covering some of the most important issues in the Saudi insurance industry. These interactive training days are designed through experienced qualified trainers to provide delegates with tangible tools and techniques to take back to their respective organisations and put into practice immediately.

Deep Marwaha Conference Manager

P.S. Book the entire event today and you could save up to US$ 700

By attending this top-level, cutting edge event you will:
• Understand how ongoing economic developments affect the Saudi Arabian insurance industry • Determine the impact of new insurance companies entering the market • Discover the roles of the Saudi Arabian reinsurance and Retakaful industries now and in the future • Learn international insurance best practices and how to reach them • Determine the current state of medical care in Saudi Arabia and how compulsory health insurance will impact it • Understand the growing trend of bancassurance as a viable option for insurers • Identify the principles and structures of Takaful insurance • Examine the level of insurance expertise within the Kingdom and how it can be improved

Pre-Summit Workshop

Sunday, 28 October 2007

Workshop Timings: Registration will be at 08:00. The workshop will commence at 08:30 and conclude at 14:30 with lunch. There will be two refreshment breaks at appropriate intervals.

Principles Of Islamic Insurance – Takaful Structures And Shari’ah Compliance
The Takaful industry is growing rapidly worldwide with annual premiums already worth over US$ 1.7 billion. As well as dedicated Takaful companies, major international insurance companies, including Allianz and Prudential, are now entering the market. The latter and Bank Aljazira signed a Memorandum of Understanding in June agreeing to Prudential becoming the largest individual shareholder in a new venture that will acquire the existing Saudi Arabia market leader: the Takaful Ta’awuni life insurance business of Bank Aljazira. The new Takaful Ta’awuni Life Insurance operation will be listed on the Saudi Arabian Stock Exchange (the Tadawul). They are also undertaking at this time a SAMA licensing process with Prudential plc, their new joint venture partner for both Saudi Arabia as well as also in the Middle East and North Africa. Allianz is also competing in the Saudi market through its joint venture with Banque Saudi Fransi which was granted a license in December 2006, and Allianz Takaful was established this year in Bahrain. Allianz are also involved in Indonesia though Allianz Utama, their rapidly expanding subsidiary. It is this most populous Muslim country that may in the long run offer the greatest potential for Takaful. The aim of this workshop is to explain in detail the principles of Islamic insurance and examine why conventional policies are unacceptable from a Shari’ah perspective. The major structures for delivering Takaful will be analysed, notably the Wakala and Mudarabah models which are designed to protect the interests of the premium payers and retain some of the features of a mutual while bringing in shareholder capital. Takaful funds must be managed in a Shari’ah compliant manner, which has implications for the form in which assets are held. Asset allocation strategies will be discussed; notably the implication of holding different types of Sukuk. The consequences of holding equities that are screened for Shari’ah compliance will also be analysed. Legal and regulatory issues involving Takaful will be explained, with specific material discussed including the Takaful Act of Malaysia, the Central Bank of Bahrain Rulebook on Takaful and the documentation produced by the Islamic Financial Services Board and the International Association of Insurance Supervisors on the regulation and supervision of Takaful.

Workshop agenda
Principles of Islamic insurance and Takaful structures • Takaful versus conventional insurance • Koranic prohibitions with respect to insurance and the concept of Gharar • Mutual insurance principles • The Wakala and Mudarabah models and the concept of Tabarru • Family Takaful insurance • Risk management by Takaful companies • Retakaful operations and underwriting • Cross selling and Islamic bancassurance versus independent Takaful providers Asset management by Takaful companies • Revolving and permanent funds • Avoidance of Riba in assets held by Takaful companies • Sukuk as an alternative to conventional bonds or notes • Asset allocation of Salam, Murabahah, Ijara, Musharakah and convertible Sukuk • Screening of equity investments by Takaful companies • Liquidity management through Murabahah commodity investments • Measuring the financial performance of Takaful funds Shariah compliance, legal, regulatory and rating issues concerning Takaful and selected case studies • Shari’ah governance and procedures for Shari’ah assurance for Takaful products • The need for special legislation: Malaysia’s 1984 Takaful Act • Regulatory issues: the guidelines of the Islamic Financial Services Board and the Bahrain Central Bank Rulebook • Rating Takaful companies using Moody’s methodological framework • Case studies: Solidarity of Bahrain, Allianz Takaful and Takaful Ta’awuni Life Insurance of Saudi Arabia

Meet Your Workshop Leader:
Rodney Wilson Director of Postgraduate Studies and Professor of Economics University of Durham’s School of Government and International Affairs, UK Rodney Wilson is Director of Postgraduate Studies at the University of Durham’s School of Government and International Affairs and a Professor of Economics. He currently chairs the academic committee

of the Institute of Islamic Banking and Insurance in London and is acting as consultant to the Islamic Financial Services Board with respect to its Shari’ah Governance Guidelines. He is author of numerous books and articles on Islamic finance. Professor Wilson also teaches masters level courses on Islamic economics and finance and supervises a number of PhD students working on Islamic finance. He has acted as Course Director for Euromoney Training in London, Kuwait, Bahrain, Bangkok and Singapore, and taken courses for the Kuwait Investment Authority, the Commercial Bank of Kuwait, the Arab Banking Corporation, Citibank and the Monetary Authority of Singapore.

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Summit Day One
Monday, 29 October 2007
A Message From Your Chairman:
Ali A. Al-Subaihin, Board Member and CEO The Company for Cooperative Insurance (NCCI), KSA
Basil Al-Ghalayini, CEO BMG Financial Advisors, KSA Ahmed A. Al-Shalan, Vice President – Marketing & Sales The Company for Cooperative Insurance (NCCI), KSA John Elkaas, Senior Director KPMG Al Fozan & Al Sadhan, KSA Dawood Taylor, Group Head Takaful Ta'awuni – Bank Aljazira, KSA 13.00 The Emerging Family Takaful Market In Saudi Arabia – Opportunities And Challenges • The market potential of family Takaful in Saudi Arabia • Focus on Takaful products that address the evolving needs of participants • Family Takaful business as a source of diversification and sustainable profitability • Regulatory considerations, disclosure requirements and participants’ reasonable expectations • Family Takaful distribution strategies • The role of the actuary • What is Takaful Takaful? • What products are offered by a life Takaful operator • What distribution channels are open to a life Takaful operation • How are participant contributions invested? • What are the challenges going forward for the life Takaful industry Chris Symeonidis, CEO Manar Sigma Financial Consulting, KSA Dawood Taylor, Group Head Takaful Ta'awuni - Bank Aljazira, KSA 13.45 14.45 Lunch For Delegates And Speakers PANEL DISCUSSION: Is There A Changing Landscape For Reinsurance And Retakaful Operators? • The current state of the Retakaful market in Saudi Arabia • Exploring a mechanism for an active role of Retakaful in the Islamic financial system • Where do conventional reinsurers stand currently in the Islamic insurance scene? Safder Jaffer, Client Markets Europe – Middle East Turkey & Pakistan, Western & Southern Europe Swiss Reinsurance Company, Switzerland Chakib Abouzaid, CEO Takaful Re, Bahrain Ian Hayward, Director – Life and Medical Arab Insurance Group (ARIG), Bahrain 15.45 16.15 Networking And Refreshment Break Moving From Minimum Standards To Best Practice Within The Insurance Industry • The importance of 'professionalism' • Lessons learnt from developed markets and the region • The role of a professional body in positive developments Mark Greenwood, Head of Regional Business Development – Middle East The Chartered Insurance Institute, UK 16.45 Measuring The Performance Of The Customer Service System • Benchmarking and standards • Choosing performance measures • Quantitative measures and behavioural measures • Measurement techniques • Putting performance measures to use Khalil Ghneim, Senior Director – Takaful Unicorn Investment Bank, Bahrain 17.15 17.20 Closing Remarks From The Chair Close Of Day One

WELCOME TO ALL
The Saudi insurance industry is currently entering a new era of crucial importance. We see the impact of new insurance market regulations, licensing of new companies, the floating of shares on the Saudi stock market, implementation of new compulsory insurance laws and the increase of competition. With these developments, a number of significant issues are arising; mainly the impact of compulsory insurance laws, the effect of the competitive environment on enhancing business practices, the future of cooperative (Shari’ah compliant) insurance in the Kingdom, and the main elements for setting the base for a strong and sophisticated insurance industry in the Kingdom. I feel the Saudi Insurance Summit, being conducted in the Kingdom for the second year consecutively, is an event that the Saudi insurance industry eagerly awaits to tackle these issues and more. The Summit will introduce many opinions and sound concepts on these issues and assist in drawing a clear road map for the Saudi insurance industry. It will also provide a platform where local and international insurance and business experts can tackle the current hot topics and present a realistic vision towards the future of the insurance industry in Saudi Arabia. I look forward to welcoming you to the 2nd Saudi Insurance Summit where we shall all contribute to building this promising industry.

09.00 09.45

Registration And Coffee Opening Remarks From The Chair Ali A. Al Subaihin, Board Member and CEO The Company for Cooperative Insurance (NCCI), KSA

10.00

Economic Outlook And Investment Climate – What Is The Possible Impact On The Insurance Industry? • How do ongoing macro-economic conditions impact newly formed insurance companies? • Coming to terms with the reality of being a publicly-listed company in the Kingdom • A healthy investment environment equates to a healthy insurance industry Brad Bourland, Chief Economist Jadwa Investment Company, KSA

10.30

KEYNOTE ADDRESS: Recent Developments And Outlook Of The Insurance Market In Saudi Arabia HE Dr. Muhammad Al-Jasser, Vice Governor Saudi Arabian Monetary Agency (SAMA), KSA

11.00

Development Of Medical Malpractice Insurance In Saudi Arabia • Historical background • Implication of legal systems – Shari’ah law and vicarious liability • Enactment of medical practitioners regulation • Claim trends Fahad A. Al-Hesni, Vice President – Property & Casualty The Company for Cooperative Insurance (NCCI), KSA

11.30 12.00

Networking And Refreshment Break PANEL DISCUSSION: Determining The Impact Of New Insurance Companies Entering The Saudi Insurance Market • Can “Greenfield” IPOs succeed? • Potential impact of insurance sector development on Saudi capital markets • Will publicly listed insurance companies improve the quality of insurance provision? • Assessing the risk of “over-capacity” Moderator: Oliver Cornock, Regional Editor Oxford Business Group, UAE

2nd Saudi Insurance Summit

Sponsored By The Company for Cooperative Insurance (NCCI) 29 October 2007 – 19.30 Jeddah Hilton Hotel, Jeddah, Saudi Arabia
NCCI is proud to sponsor this year’s Gala Dinner which represents its second participation in this vital gathering. NCCI invites Summit delegates to an evening of debate and discussion on the current insurance environment in Saudi Arabia. The evening will start with a welcoming speech from a senior executive, followed by a gourmet dinner.

Gala Dinner

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Summit Day Two
Tuesday, 30 October 2007
08.55 09.00 Opening Remarks From The Chair Health Services In The Kingdom – Past, Present And Future • Health development system project • Health insurance for citizens as a cure to advance and promote the health system in Saudi Arabia Reda Khalil, Senior Minister Advisor Ministry of Health, KSA 09.30 PANEL DISCUSSION: Understanding The Impact Of Compulsory Health Insurance Key representatives from insurance, medical and regulatory institutions debate the implications of new health insurance laws in Saudi Arabia • What is the impact, medically and economically, of a shift in regulation? • Future developments that could enhance the regulatory structure of this important sector Moderator: Ayman El Hout, Deputy General Manager Medgulf, KSA Dr. Abdullah I. Al Sharif, General Secretary Council of Cooperative Health Insurance (CCHI), KSA Ibrahim Muhanna, Futurist Muhanna & Co., Lebanon Talal Hisham Nazer, Managing Director BUPA Middle East, KSA 10.30 11.00 Networking And Refreshment Break Understanding The Future Of Financial Insurance Products In The Middle East And Saudi Arabia • What are the established Financial Lines products? • The undeveloped products and the untouched products • Future potential for Saudi Arabia and beyond Paul Sterckx, Assistant Vice President – Financial Lines Arabian Region AIG, UAE 11.30 Examining Bancassurance As A Viable Option For Insurers • Partner selection puzzle • Distribution choices • The importance of bancassurance as a vital distribution channel in a competitive market • Open or closed wedlock? • Profit sharing options • “The Puzzle of Bancassurance” • Modes of cooperation • Challenges of proper “fit” Manoj Kumar, Head of Bancassurance Doha Bank, Qatar Dr. Omar Fisher, Managing Director – Takaful Unicorn Investment Bank, Bahrain 12.30 Cooperative Health Insurance In The Kingdom Of Saudi Arabia – Challenges And Opportunities From An Industry Perspective • Health insurance in the GCC – current status and expected developments • The cooperative law in the Kingdom – a brave step into the future • Key success factors for implementation – experience from other markets and challenges for Saudi Arabia • The role of the industry: Public-Private Partnership Dr. Frank Mayer, Regional Managing Director MedNet Holding GmbH (a Munich Re Group Company), GCC 13.00 Building Awareness Among All Insurance Stakeholders To Enhance The Industry In Saudi Arabia • Developing awareness among the community in general to understand the overall importance of a thriving insurance market • The importance of building an educated generation through students, college societies and concerned researchers • Reaffirming awareness among insurance company executives and employees to understand the intricacies of regulations and apply them in a way that improves quality of service Dr. Adham Jaad, CEO Arabian Company for Insurance & Reinsurance Brokers (AMS), KSA & Economic Advisor – Insurance and Reinsurance Dr. Majed Mohammed Hussain Garoub, Chairman The Law Firm of Majed M. Garoub, KSA and Chairman The Saudi Law Training Centre, KSA 13.45 14.45 Lunch For Delegates And Speakers PANEL DISCUSSION: Shari’ah Compliance – Evaluating The Implications In A Growing Insurance Market • Cooperative insurance or Takaful – what are the differences? • Analysing the Saudi cooperative insurance implementation regulations as they stand • Implications of mandatory deposits in the form of Saudi treasury bonds • Distributions of surplus between the company and the policy holders Moderator: Adli Hammad, Senior Partner Hammad & Al Mehdar, KSA 17.30 17.45 17.00 15.30 16.00 Dr. Mohamed Ali El-Gari, Professor of Islamic Economics King Abdul Aziz University, KSA Sheikh Nizam Yaquby, Shari’ah Board Member Bahrain Monetary Agency, Bahrain Networking And Refreshment Break Improving Market Confidence Through Adequate Dispute Resolution And Claims Assessment • An overview of the legal framework for the settlement of insurance disputes • How a transparent claims assessment policy leads to greater confidence • Legal protection – what is available at the moment? • Future impact of consistent and transparent judiciary Andreas Haberbeck, Barrister The Alliance of Abbas F. Ghazzawi & Hammad & Al-Mehdar, KSA 16.30 Enterprise Risk Management And It’s Application In Takaful Companies • What is the Enterprise Risk Management concept? • The importance of Enterprise Risk Management in achieving strategic objectives • How to develop effective Enterprise Risk Management in the current environment • Applying and implementing Enterprise Risk Management within an organisation Mohamed El Dishish, CFO Takaful Re, Bahrain The Role Of A National Association In The Promotion Of An Insurance Industry • The start-up of an association • The local constraints • The regional and international presence • The motivation of the team • The findings Elie Ziadé, President Lebanese Insurance Brokers Syndicate, Lebanon Closing Remarks From The Chair Close Of Summit

Post-Summit Workshop
Wednesday, 31 October 2007
Workshop Timings: Registration will be at 08:00. The workshop will commence at 08:30 and conclude at 14:30 with lunch. There will be two refreshment breaks at appropriate intervals.

Mind The Gap!
How Can We Bridge The Insurance Skills Shortage?
The Saudi Arabian insurance market is in its infancy but it has the potential for significant growth as the nation becomes accustomed to the importance and value of a thriving insurance sector. However, the growth of the industry and the success of the players in the market will greatly depend on the acquisition of a rare resource – skilled personnel! Saudi Arabia’s huge shortage of skilled insurance professionals is not going to fix itself. With an increasing number of new companies coming into the rapidly growing market each year the demand for trainable and trained insurance personnel will increase. Companies that fail to invest in the training and development of their staff will ultimately fail themselves. In this workshop, Ian Wilson (Head of Insurance Programs, Institute of Banking, SAMA) will explore the skills gap with participants and discuss strategies to bridge the skills gap within the industry. He will also discuss how the industry and government agencies can work together to quickly bring about a first class insurance professionals pool.

Workshop Agenda The current situation
• The need for skilled insurance professionals • Review of the Saudi insurance industry skills shortage • The impact of the skills shortage – The skills path • Making the shift from being an insurance operator to a world-class insurance leader

Bridging the skills gap
• Discussion on the key skills shortages • Strategies for bridging the gap

Meet Your Workshop Leader
Ian Wilson, FIIC, MBA, Head of Insurance Programs Institute of Banking (SAMA), KSA Ian Wilson is Head of Insurance Programs at the Institute of Banking (IOB), a part of the Saudi Arabia Monetary Agency. Prior to joining the IOB, Ian spent 24 years in the property and casualty insurance sector. He has held senior management roles in major Canadian and UK insurers in the areas of underwriting, marketing and human resources. As well as publishing a number of articles, he is a Fellow of The Insurance Institute of Canada and graduated with an MBA from York University, Toronto.

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Summit Sponsors
Diamond Sponsor
The Company for Cooperative Insurance (NCCI) is a Saudi joint stock company established in Riyadh, Kingdom of Saudi Arabia by Royal Decree Number M/5 and incorporated on January 18, 1986 under Commercial Registration No. 1010061695. With its subscribed capital of SR 500 million and a gross written premium amounted to SR 1,750 million in 2006, NCCI is now the leading insurance company in Saudi insurance market. NCCI transacts cooperative insurance operations and all related activities including reinsurance and agency activities. Its principal lines of business include: motor, marine, fire, medical, engineering, energy, aviation, Takaful and casualty insurance. NCCI operates through a network consists of customer services centers, 3 regional offices and more than 67 branches Kingdomwide. In 2007, NCCI has been assigned an (A) credit rating by Standard & Poor’s (S&P) Rating Services. According to S&P NCCI is one of the top 200 insurance companies world-wide. Since its early beginnings, NCCI took it upon itself to develop the Saudi insurance industry, setting standards for optimal insurance services and introducing new products that satisfy client needs, especially in the retail sector. So, NCCI's mission is to be the insurer of choice and the employer of choice.

Platinum Sponsors
Fixing the image of the Middle Eastern market is a core vision of Medgulf, one of the major insurance companies in the Gulf region and the leading non-governmental insurer in Saudi Arabia. Having commenced as an offshore insurance and reinsurance company registered in Bahrain in 1995, it transacted its Saudi operation through an exclusive contract with Al Samiya Trading Company and in 1997 acquired the shares of Strikers Insurance and Reinsurance Company in Lebanon. A year later Medgulf increased its capital through an investment by the Al Azizia Group headed by Prince Walid Bin Talal and Group Mediterranean, at the time owned by the Hariri family. A sharp ascent followed for the newly formed Medgulf Holding with acquisitions of Addison Bradley & Co Insurance Brokerage, ARK insurance, Medivisa and Omnilife. Bank Aljazira’s Takaful Ta’awuni Division (TTD) marked its entry into the life takaful business in 2001, providing risk protection and structured savings contracts to Saudi individual and corporate customers. The products are a Shari’ah compliant alternative to conventional life insurance and TTD was the first life Takaful organisation to sell Shari’ah approved and SAMA approved life Takaful products in the Kingdom of Saudi Arabia. It has led the industry regionally and globally having received the 2007 “Life Insurer of the Year” award from Middle East Insurance Awards in recognition of its achievements preceded by the Euromoney 2006 award for “Best Life Takaful Operator” in the world and the “Islamic Finance Weekly 2004” award for “Best Takaful Operator”. Takaful Ta’awuni products conform to Islamic business principles and promote the sense of caring, brotherhood and mutual assistance through participation in the cooperative risk pool where the fortunate few assist the many unfortunate individuals who are unable to “In 2004, Medgulf submitted its application to the Saudi Arabian Monetary Authorities (SAMA) for its license to operate as an officially recognised insurer as required by the new Saudi Cooperative Insurance Companies Law,” says Medgulf’s Chairman Mr Lufti El Zein. The official license was obtained in 2006 along with an A rating from the Digest Arab Insurance Rating within the Muhanna framework. “We at Medgulf are fully committed to continue building a solid and serious leading Pan Arab insurance group based on professionalism and transparency at the forefront of the insurance industry.” Combined with its international network of reinsurers, Medgulf guarantees investors secure operations within the Kingdom of Saudi Arabia.

provide for their future or their families in the event of premature death or disability. TTD has a wide range of family life Takaful products which are under the process of being expanded at time of writing. TTD has witnessed exceptional sales growth since inception and beyond initial expectations which is an indicator of the strong need for family and corporate life Takaful solutions in Saudi Arabia. TTD currently has 7 operational offices (male & female) covering Jeddah, Riyadh, Dammam, Makkah and Hofuf while 5 more offices are to open before the end of 2007. Bank Aljazira and Prudential plc have signed a Memorandum of Understanding (MoU) to acquire a significant stake in the joint venture with Bank Aljazira and to become the largest individual shareholder for the venture and work is under way for the new entity to be listed on the Saudi Arabian Stock Exchange (the Tadawul).

Gold sponsor
Established in 2005, Takaful Re Ltd. rates among the highest capitalised Retakaful companies today. Its paid-up capital is US$ 125 million. Takaful Re is a full fledged Retakaful operator accepting business from Takaful and cooperative companies all over the world. Takaful Re founders are large GCC financial institutions lead by Arig, which allows the company to benefit from its 26-year reinsurance experience. Takaful Re aims to play a leading role in the Takaful industry and promote Takaful as an alternative Shari‘ah compliant solution. Takaful Re is regulated by the Dubai Financial Services Authority (DFSA). It is rated ‘BBB’ (stable) by the rating agency Standard & Poor’s.

1st Saudi Insurance Summit 2006 Past Delegate Industry profile

1st Saudi Insurance Summit 2006 Past Delegate Title profile
CEO/Director/Chairperson/ President 26%

Senior Management 35%

Other 10%

Middle Management 17%

Insurance Manager 12%

Sponsorship and Exhibition Opportunities
Participate as a sponsor or exhibitor in the 2nd Saudi Insurance Summit and your company will reach the top decision makers in the sector. As well as a unique networking opportunity, sponsoring or exhibiting at the 2nd Saudi Insurance Summit provides a targeted approach to promoting your corporate image, products and services as well as creating greater market awareness. We have a selection of packages available but sponsorship and exhibition opportunities at the 2nd Saudi Insurance Summit are strictly limited. So don't be disappointed. Please contact: Marie-Eve Cote Sponsorship Manager Tel: +971-4-407 2715 • Fax: +971-4-335 0671 • Email: sponsorship@iirme.com

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