18 February 2024

The Insurance Authority headed the Saudi delegation participating in the 34th General Conference of Arab Insurance in Oman

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.