The Financial Academy’s Advisory Committee for Insurance Sector Human Capital Development, assembled in full, has convened for the first time at the headquarters of the Academy in King Abdullah Financial District (KAFD), Riyadh. The meeting was headed by H.E. Mr. Abdulaziz bin Hassan Al Boug, Chairman of the Insurance Authority.

The Committee discussed a broad range of agenda items that focused on ways to improve the Saudi insurance industry, coming up with decisions and recommendations needed to realize this goal.

Earlier this year, the Financial Academy’s Board of Trustees decided to constitute an advisory expert committee for developing the capabilities of human resources of insurance sector. It is tasked with identifying the sector’s training and development needs and providing advice and insights on how to elevate the performance of the insurance industry human capital. The move was inspired by the Financial Academy Strategy 2024-2026, which aims to enhance the Financial Sector’s efficiency and excellence.

Basically, the Committee focuses on boosting the efficiency of development programs targeting the insurance sector’s human capital with a view to stepping up their level of knowledge and skills. In doing so, it determines the training needs and gives expert recommendations on how to improve training programs and develop professional certificates and skills needed for the sector staff. Additionally, the Committee serves as a direct communication platform that enables the Financial Academy to understand the requirements, precisely identify the most refined needs, and ensure that they are met; thus contributing to achieving the goals of the Financial Sector Development Program (FSDP), one of the Kingdom’s Vision 2030 programs.

The Advisory Committee includes HE. Mr. Abdulaziz bin Hassan Al Boug, Chairman of the Insurance Authority as its chair; Mr. Naji Al-Faisal Al-Tamimi, CEO of the Insurance Authority; Mr. Mana bin Mohamed AlKhamsan, CEO of the Financial Academy; Mr. Othman bin Yousef AlKassabi CEO of the Company for Cooperative Insurance (Tawuniya); Mr. Tal Hisham Nazer, CEO of Bupa Arabia for Cooperative Insurance; Mr. Ahmed bin Ali AlJabr, CEO of Saudi Reinsurance Company "Saudi Re"; Mr. Bassam Al Bader, CEO of Marsh McLennan, a global leader in insurance brokerage; in addition to the Director of the Financial Academy’s Insurance Center, who serves as the Committee Secretary General.