Gulf Actuarial Society - Past events

The Institute and Faculty of Actuaries’ (IFoA) Head of Europe, Middle East and Africa Markets Development, Irene Serewicz Redman and Business Development Manager, Adriaan van Heerden were present and discussed recent developments at the IFoA, including Curriculum 2019 and IFRS 2017.  Members from some of the relevant regulatory bodies also attended the event.

Five miscellaneous sessions:

GLM Pricing and Data Science Algorithms; IFRS 17 – The New Financial Reporting Standards for Insurance Companies; Claims Fraud Assessment; Data Driven Decision Making – Using Analytics to Optimise Profits; Professionalism

Miscellaneous topics of relevance and interest

Life Insurance Mortality Study, Regulatory Developments across the GCC, Actuaries and Underwriters, Professionalism, and VAT Presentation and Industry Update

Session 1 – Predictive Analytics.  
Speaker: Brian Brown, President, Casualty Actuarial Society (CAS)

Session 2 - Draft Regulations Regarding Life Insurance in the UAE – Challenges and opportunities for Insurers.  
Speaker: Karunanidhi Muthuswamy, Chief Actuary, RGA Middle East

Session 3 – UAE Actuarial Regulations.  
Speakers: Omer Morshed, CEO, Sidat Hyder Morshed Associates (Pvt) Ltd

Welcome by Shivah Bhagaloo, Chairperson, GAS
Speakers included:

Session 1 -
Speaker: Fiona Morrison, Immediate Past President, IFoA, UK

Session 2 - Challenges and Opportunities in the Life Insurance Industry; A reinsurer’s perspective
Speaker: Mohsin Ali Khan, Head of Pricing, Gulf Region - Life Reinsurance, Munich Re Underwriting Agents (DIFC) Ltd

Session 3 - Parametric Insurance and Perspectives in the Region
Speakers: Violaine Raybaud, Regional P&C Underwriting and Development Manager, AXA Insurance (Gulf) B.S.C. (c) and Thameur Zghal, [Insert Designation], AXA Insurance (Gulf) B.S.C. (c)

Session 4 - Solvency Regulation in the UAE: A Benchmark and Impact Study
Speaker: Raghav Ohri, Consulting Actuary, Lux Actuaries and Consultants, Dubai

Event sponsored by Munich Re:
  

Our technical talks covered a wide range of issues including:

• a panel discussion on the role of actuaries in the GCC led by Shoab Soofi from Metlife
• a presentation on Capital Modelling from Mark Cockroft, Qatar Re and Chairman of the GAS Committee, and
• an interactive session titled 'Using the ODP Bootstrap Model: A Practitioner's Guide' with Mark Shapland from event sponsors Milliman
• presentation on Telematics by Reena Gandesha.

Third member event

Presentations by:

• Safder Jaffer (Managing Director and Consulting Actuary) and Robert Meyer (Head of P&C Practice) from Milliman
  Impact of the new regulations on the UAE Insurance market - Focus on reserving
• Catherine Love Soper (Principal Consultant, Callund) and Mazen Abukhater (Principal, Mercer)
  Social Insurance issues in the GCC
• Vasilis Katsipis, representative from AM Best
  Investment strategies in the GCC
• Dr Khalid Al-Amri (Assistant Professor, Sultan Qaboos University)
  Introduction to Takaful Insurance: Opportunities and challenges
  Takaful insurance efficiency in the GCC countries

The event was sponsored by Milliman and AMBest:

Photographs of the event.

Presentations by:

• Nick Salter President of the IFoA,
• Shivash Bhagaloo, Director at Lux Actuaries - The New Insurance Solvency Regulations in the UAE.
• Chittaranjan Mishra, Head of Market Risk & Analytics, National Bank of Oman - Actuaries in Banking and
• Ruan van Rensburg, Director at Lux Actuaries - "How To" - Financial Condition Reporting

View photographs of the visit

Presentations by:

• Wim Daems, Sungard Insurance - Possible future life insurance developments in the Middle East and
• Derek Cribb, Chief Executive of the IFoA.

View photographs of the launch event