ACAL took part in the online certification ceremony organized by Tamayyaz and the International Finance Corporation (“IFC”) on February 11, 2021.
19 professional insurance executives were awarded with the Corporate Directors Certification after successfully passing the relevant exams. These participants are now internationally recognized IFC/Tamayyaz certified ‘Corporate Directors’, and are now well equipped to serve as Board members in various companies.
In cooperation with Tamayyaz and the IFC, ACAL offered this program to insurance companies in Lebanon in both 2019 and 2020 as part of its strategy to develop and encourage the implementation of international best practices in governance, compliance and risk management within Lebanese insurance companies.
ACAL President, Mr. Elie Torbey, congratulated the participants and affirmed that, despite the many challenges the country is going through, ACAL’s Board of Directors continues to execute its strategy, which includes supporting the implementation of sound corporate governance within insurance companies in Lebanon, in addition to providing the right platform to encourage continuous professional education among insurance executives, in collaboration with distinguished partners such as Tamayyaz and the IFC.
Me. Oussama Salman, ACAL Board member and Chairman of the Board Corporate Governance Committee, praised the world class quality of the training provided by Tamayyaz and the IFC, which equipped participants with the tools needed to implement sound Corporate Governance processes and structures in the companies they are involved with. He also confirmed that ACAL will continue to support the employees of the insurance sector in Lebanon by developing their career and technical expertise, in line with the strategy approved by ACAL’s Board of Directors.
Established in 1971, ACAL (Association des Compagnies d’Assurances au Liban) is a professional association that gathers all insurance companies in Lebanon and aims at establishing a close cooperation among its members in different fields, building the profession on technical and sound bases, and instituting rules and regulations liable to raise the level of the insurance industry as well as safeguarding the public interest and insuring the representation of its members with the authorities and third parties.
© Press Release 2021
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