The Financial Academy’s (TFA) Insurance Center held an online specialized seminar entitled “Arab Insurance Industry: Navigating Global Changes, Legislations, Tech & Business Models.” The event—which took place Tuesday, April 28—was led by a select group of Arab insurance industry leaders and experts, and attended by numerous stakeholders from across the Arab region.

The seminar was part of the Center’s broader efforts to promote professional dialogue and the exchange of expertise regarding the future of insurance industry in the region. It addressed key global shifts and their impact on Arab markets, with a focus on regulatory readiness, the level of technology leverage, and the ability of current business models to keep pace with rapid changes.

The session covered four main themes, namely: Global Changes in Insurance Industry; Role of Technology as a Gamechanger; Future Viability of Current Business Models; and Prospects for Development and Integration among Arab Markets .

Mr. Resini Alresini, Deputy CEO of ReTech Reinsurance Brokers Co. (ReTech), facilitated the seminar among experts and enriched the discussions with valuable insights, contributing to extracting actionable outcomes. Mr. ‏ Chakib Abouzaid ‏ , General Arab Insurance Federation (GAIF), said that Arab integration is critical for addressing global challenges, urging collaborative action to boost the competitiveness of Arab insurance markets. He also highlighted the Federation’s role in supporting the development of regulatory frameworks and bringing international best practices to Arab markets.

Speaking about the Egyptian experience, Mr. Alaa El Zoheiry, Chairman of the Insurance Federation of Egypt (IFE), reviewed the evolution of insurance market in his country as a model of adaptation to change, focusing on legislative reforms and their role in promoting growth. He considered innovative products and awareness are very important as well.

In turn, Mr. Fareed Lutfi, Secretary General of the Emirates Insurance Association (EIA), shared the UAE’s experience in adopting technology and digital transformation in the insurance sector. Furthermore, he discussed the role of public-private partnerships (PPPs) in developing an advanced and resilient insurance system.

Mr. Adel Al Eisa, Executive Partner at Consulting Actuaries and Insurance Specialists (CAIS) and former Media Spokesman for Saudi Insurance Companies, addressed the regulatory developments in the Kingdom and their impact on the stability and growth of the insurance market. He underscored the importance of actuarial analysis and risk management in supporting decision-making and achieving financial sustainability for insurance companies.

The seminar concluded that the future of the Arab insurance industry depends heavily on accelerating the pace of digital transformation, updating legislation, and creating flexible business models capable of responding to global changes, while strengthening regional cooperation to achieve integration and sustainable growth.

TFA Insurance Center continues to play a leading role in supporting the development of insurance industry by organizing specialized events that bring together expertise and support capacity building in the Saudi and Arab markets.

The Financial Academy (TFA) is an entity with an independent, legal and administrative status. It is organizationally located under the Chairman of the Board of the Capital Market Authority (CMA). The Academy is dedicated to qualifying the financial sector’s human capital, including senior managers and board members, by advancing their knowledge, capabilities, skills and culture. TFA also develops and promotes best professional financial practices, targeting all components of the financial services sector including banking, finance, insurance and capital market.