RIYADH: As part of its efforts to share best practice with its clients, Saudi Re has organized a seminar titled "The reinsurance value proposition: actuarial modeling and capital management" in Riyadh on Wednesday. Senior executives in the Saudi insurance industry were among the participants.
In his opening remarks, Fahad Al-Hesni, CEO Saudi Re, said: "The topic of the seminar was stimulated by discussions with some of our clients. Analyzing volatility and capital allocation per line of business can provide valuable insights in respect of developing a reinsurance strategy as well as a business strategy, and this seminar is intended to shed light on how to benefit from actuarial analysis." He also added: "This comes as part of a series of seminars covering a spectrum of topics, which Saudi Re hosts for its clients across different markets."
Other speakers were Saudi Re's chief underwriting officer Andreas Bollmann, who discussed the value proposition of reinsurance, Chief Risk Officer Ameer Batcha, who led a session on solvency regimes and risk based capital, and Safdar Jafar, Milliman's managing director Middle East and Africa, who discussed the value of actuarial modeling.
Saudi Re, an S&P BBB+ rated reinsurer, has recorded a growth rate of 60 percent in the first half of 2011. Saudi Re is a listed reinsurance company with highest capital in the GCC of SR1 billion ($267 million).
© Arab News 2011
