11th Middle East Insurance Industry Awards 2024

Since establishment in 2015, Algerian Gulf Life Insurance Company (AGLIC) has rapidly expanded to become today Algeria’s leading life insurer by adopting innovation and a customer-centric approach. The company currently commands 23% market share (against 4% in 2017), registering 40% growth rate over 2022 and ranked as the fastest growing insurer in Algeria.

AGLIC's commitment to innovation is evident in its development of products and services tailored to meet the evolving needs of its clients, serving 600,000 insured and affiliated individuals.

It was the first company in the market to introduce standalone critical illness insurance and introduced WARDA product, specifically designed to address women's unique healthcare concerns. AGLIC offers a slew of products designed to meet the diverse needs of clients.

In 2023, the company has further enhanced its mobile application to include new features. AGLIC has also launched the HR-MODULE which allows the HR department on the companies subscribing group life contracts to have online information and statistics about their contracts. This technological advancement not only enhances the customer experience but also sets the company apart in the industry.

With an extensive distribution network, comprising nearly 600 sales points through partnerships and a network of general agents, AGLIC’s products are accessible across all provinces of Algeria.

In 2023, net profit grew by 32% with net insurance margin rising by 63%, solvency margin up by 13% and ROE reaching 19%, thereby generating satisfactory results for shareholders and the strengthening its business model.

The company’s excellent reputation in the market is also reflected in its active participation in industry associations and regulatory bodies.

Tawuniya’s initiatives align with Saudi Vision 2030, global standard, with engagement that exemplifies dedication.

It consistently demonstrates a commitment to excellence as part of the its strategy with its results, which include delivering growth and sustainable earnings, leading initiatives in ESG; nurturing a culture of care for employees; operational excellence through implementing digital-first solutions that streamline access to a comprehensive service ecosystem; and being a customer-centric prioritising customer needs by developing affordable, high-quality solutions from prevention to protection, driven by constant innovation.

Tawuniya reserved its leadership position in the Saudi insurance sector and the region in 2023 with 29% market share where GWP jumped by 59.4% to SAR5.1bn ($1.36bn) from SAR3.2bn in the past year, serving over 13m clients. Gross profit has also surged by 22% to SAR217m against SAR178mn in 2022.

Tawuniya's financial stability and industry standing are underscored by its strong ratings, S&P’s A rating with a Stable outlook, and Fitch Ratings’ A rating with a Positive outlook.

The company maintains strong partnerships with leading global reinsurers, which allows it to effectively manage large-scale risks.

Tawuniya's growth has been bolstered by strategic partnerships both locally and internationally, enhancing its service offerings and reinforcing its market position.

Its dedication to innovation is showcased through dynamic product offerings, with over 70 products in travel insurance, event cancellation, domestic helper, medical malpractice, and various non-life insurance covers.

At the core of Tawuniya's operations is a commitment to customer satisfaction, which the company measures and refines through continuous assessments using NPS and CSAT.

Bupa Arabia for Cooperative Insurance (Bupa Arabia) is a pioneering Saudi cooperative health insurer established in 1997 as the first specialised health insurer in Saudi Arabia and became a publicly traded company on Tadawul in 2008.

The company’s services transcend medical insurance to cover the entire continuum of health and well-being. What sets Bupa Arabia apart is its ability to adapt and localise global best practice to suit the diverse needs of its members in Saudi Arabia.

The company was the first health insurer in the kingdom to develop specialised and innovative membership programmes for companies and individuals, aimed at providing affordable, high-quality care and a personalised customer experience, namely the Tebtom and Rahatkom programmes.

Its products and services represent a lifetime of care, beginning at the prenatal stage of life, through maternity, and on to later stages of life, seeking to assist members in making healthier life choices through carefully designed offerings, such as Bupa Click, Bupa Tebtom, Bupa Rahatkom, and Bupa Live Right.

In 2023, the company’s GWP recorded SAR16.668bn ($4.4bn), a 19.9% increase against the previous year, while profit soared to SAR1.116bn.

Bupa Arabia’s health insurance revenue accounts for 71% of its business covering 21.1m customers with a strong domestic health insurance presence via its businesses in the UK, Australia, Spain, Chile, Hong Kong, Turkey, Brazil and Mexico, and the company’s associate businesses in Saudi Arabia and India.

The operator is also a health provider. Health provision accounts for 21% of its total revenue, comprising 370 health clinics, 23 hospitals and around 1,000 dental centres, serving more than 16.9m people globally.

NAS Neuron Health Services, born from the 2019 merger of NAS Administration Services in Abu Dhabi and Neuron in Dubai has rapidly become a powerhouse in third party administration. This alliance created an entity that has seen membership expand rapidly from 1.2m to 1.6m firmly establishing it as a leader in the region’s healthcare management landscape.

In 2023, NAS Neuron processed $2.3bn in claims, managing 23mn direct billing claims and achieving 70% automation on outpatient claims. Its automation rate, surpassing 70% for outpatient claims, is emblematic of its dedication to operational efficiency and cutting edge-technology. Its success is not merely numbers-driven but also reflected in customer satisfaction scores.

A trailblazer in promoting health and wellbeing, NAS Neuron launched bespoke wellness programmes across the UAE, conducting over 400 events in 2023 alone. Its ability to impact the health and productivity of countless individuals positively reinforces its leadership in wellness innovation.

NAS Neuron’s extensive network of over 50,000 doctors and 5,000 healthcare facilities, coupled with strong alliances with 45 insurers and 17 reinsurers and 150 plus brokers, speaks to its substantial market presence. Generating over $50m in revenue annually, the company is a beacon of financial stability and operational excellence. Its commitment to cost containment and advanced claims processing sets it up as an industry leader. Their unwavering support for Emiratisation and compliance to DHA-GC03 cements its leadership position.

In 2023, Solidarity Bahrain delivered an outstanding performance, achieving a remarkable 10% increase in gross contributions, amounting to BHD50.9m ($135m), up from BHD46.2m in 2022. The company’s net profit also rose by 14% to BHD5.2m compared to BHD4.6m the previous year. Solidarity maintained a solid balance sheet, evidenced by a solvency ratio of 333%, significantly exceeding regulatory requirements. With a solvency margin of BHD19.1m, well above the necessary BHD5m for general takaful and BHD714,000 for family takaful, the firm’s financial health remains robust.

Total shareholder equity grew by 11% to BHD36.5m. The board of directors proposed a 25% cash dividend for shareholder approval at the upcoming annual general meeting. Solidarity’s innovative strategies led to numerous accolades in 2023, including awards for Best New Claims Centre and Best Motor Insurance Provider, among others.

AM Best reaffirmed Solidarity’s Financial Strength Rating of B++ (Good) and a stable outlook, recognising the benefits of its acquisition of AlHilal Life and AlHilal Takaful. This acquisition enhances Solidarity’s market position and product diversity.

Solidarity growth in 2023 was based on completion of its strategy of agility, collaboration, transformation and scaling up, with improvements in crucial metrics. Growth in market share and profits, retention of customers and staff, optimisation of operations, costs and processes and work and collaboration will mark its new strategy for 2024-2026. This forward-thinking approach will focus on expanding market share, enhancing operations and leveraging technology to provide superior customer service while optimising costs. Given the positive outlook for Bahrain and a strong focus on technology, the company is well set to maintain its leading role in the takaful sector.

Founded in 2017, elseco has redefined technical specialty lines across space, aviation and energy with a platform powered by next-gen technology and a team of dedicated specialists for whom efficiency, innovation and transparency are paramount. Over the past 17 years, elseco has amassed $450m in capacity from 50 carriers while maintaining an impressive 68% loss ratio across all lines of business. Its advanced technology hub, ATOM, streamlines underwriting, claims, compliance and other decision-making processes and in turn, trims operational costs. ATOM’s next-level benefits are now available beyond its own organisation. Its ecosystem of reinsurance brokers and capacity providers can plug into this platform for unleashing transformation.

Its flexibility and digital transformation are evident in the company’s tailored portfolios and bespoke solutions, designed to align with clients’ specific risk appetites. Long term relationships with capacity providers, averaging eight years, further enhance its ability to offer reliable, high-quality coverage. With the support of elseLab, a custom data engine, elseco’s space underwriters gain unparalleled insights to aid risk assessments and transform contract negotiations.

The company has consistently delivered an 18% average growth in GWP all while maintaining strong returns for its members. Its focus on data-driven strategies and collaborations ensures that it stays ahead of the curve in a complex and competitive environment. elseco’s ability to adapt, grow and lead in highly specialised insurance sectors has set a high bar for excellence and helped its 100 strong team across four locations set the pace in a specialised sector.

Established in 1873, The Chartered Insurance Institute is one of the oldest and best recognised professional bodies in the world, boasting headquarters in London, and HRH King Charles III as its patron. With a global membership of 125,000 people, its qualifications are held in very high regard by the world’s leading corporates, institutions and regulators.

A CII qualification designation is the pinnacle of attainment, ultimate proof that an adviser does not only possess up to date technical knowledge, but that they adhere to a robust code of professional ethics.

Its continuous mission is to boost professional standards within the insurance sector, to instil customer confidence and ultimately future-proof the sector across the globe.

The CII’s office in Dubai, now based in the Dubai International Financial Centre (DIFC), was established in 2018 and has forged relationships with numerous government entities, universities, regulators, corporates, individuals and training companies. It continues to nurture these valuable relationships in order to boost training and qualifications across a wide range of subjects, in alignment with an evolving and maturing market.

This endeavour is particularly significant in the Middle East, where the region’s insurance sector has made significant progress but is still developing compared to more mature markets such as the UK. As the market ripens and as government regulators such as the Central Bank of the UAE continue to tighten regulations, qualifications attainment is increasingly crucial.

The CII plays an important role in helping to raise standards through the provision of wide-ranging accredited qualifications, impactful CPD initiatives, tailored learning support provision and the creation of powerful partnerships with influential stakeholders.

Tawuniya's commitment to digital transformation has not only revolutionised its operations but has also set a new benchmark in the insurance industry. By integrating advanced technologies and forming strategic partnerships, Tawuniya has crafted a comprehensive digital ecosystem that offers a multitude of services, enhancing customer experience and operational efficiency.

Tawuniya’s super app stands at the heart of its digital transformation, boasting a 99.5% transaction success rate and high user ratings. This multifaceted platform integrates various services, including telemedicine, medication delivery and other services, providing a seamless digital experience. The app’s success is reflected in its impressive digital experience rating of 4.5+ stars from over 120,000 user ratings, making it the highest-rated multi-insurer app in terms of rating score and volume.

One of the app’s standout features is its telemedicine service, which has become a cornerstone of Tawuniya’s digital healthcare offering. This service allows users to book consultations with healthcare professionals, receive prescriptions and access medical advice remotely, thus significantly reducing the need for physical visits and wait times. The convenience of telemedicine has been particularly beneficial during the COVID-19 pandemic, providing safe and timely healthcare access.

Another innovative feature is the medication delivery service, which ensures that customers receive their prescribed medicines at their doorstep. This service integrates with local pharmacies and utilises advanced logistics solutions to guarantee timely and accurate delivery, thereby enhancing customer convenience and satisfaction.

Through digital transformation, Tawuniya has significantly enhanced operational efficiency and reduced costs. The implementation of advanced automation technologies like AI, ML, and OCR has reduced manual processes by over 60%, with 70% of processes now fully automated. This shift has not only streamlined operations but also improved service delivery speed and customer satisfaction.

Merimen pioneered collaborative information exchange for the digital economy. It powers businesses across industries and borders with comprehensive software-as-a-service insurance ecosystems and digital partnerships worldwide.

It handles large volumes of data, leveraging predictive tools and analytic engines to help customers better analyse their data, supporting the needs of P&C insurers across the globe. Its expanding analytics offerings include fraud detection, predictive modelling and machine-assisted decisions, providing deep insights and better decision-making.

By leveraging its strong domain knowledge, experience, and insights, it makes sure its clients are ahead of the curve. It is all part of its commitment to forging long-term partnerships with customers. By delivering this comprehensive suite of features, Merimen empower its clients to achieve their business objectives and stay competitive in the market.

More than 155 leading insurers and takaful operators in 10 countries across Asia and Middle East use its platform to transact over 2m claims annually together with an extended ecosystem of 12,000 repair workshops, adjusters and lawyers.

BADRI Management Consultancy has emerged as a global consulting company, providing diverse services across the Middle East and beyond. Its 170+ staff in the UAE, KSA, Pakistan, India and now in a recently opened office in Egypt, drive innovation and offer cutting-edge solutions.

It has evolved into a multidisciplinary firm specialised in actuarial services, financial services, strategic consulting, HR consulting, data management and business intelligence implementations. It currently serves as appointed actuaries for 30 clients in GCC and have served over 150 unique clients.

In today's evolving business landscape, sustainability and transparent reporting are paramount. Badri has integrated ESG advisory support into its core services, aligning with IFRS S1 and S2. This approach enhances its competitiveness and helps clients achieve industry-leading sustainability practices.

Its BI solutions now include an actuarial technical pricing tool and insurance-trained staff augmentation for reporting and analysis needs. As appointed actuaries for many regional insurance companies, Badri understands the need for better reporting and smarter decisions.

It also helps organisations adopt high data quality standards, giving them a competitive advantage. Good quality data prevents operational errors and improves the accuracy of analytics, including AI technologies.

Its new office in Cairo provides access to one of the largest insurance markets in North Africa and serves as a gateway to wider African markets.

Its service innovations have contributed well towards the advancement of the industry. Its market alliances have enabled it to provide a range of actuarial and allied solutions to its customers and have added value for their businesses.

Mr Abdulla Hisham Al Khatib works as an enterprise risk manager at Emirates National Oil Company(ENOC), the oil and gas company owned by the government of Dubai. ENOC deals with high-risk flammable products and risk management is an integral part of its daily operation. Risk impacts can be considered greater in comparison to other businesses and controlling such risks is often demanding in terms of resources and time.

On joining ENOC, Mr Al Khatib looked into the details of the existing group ERM framework while comparing it with the company’s original traditional risk approach. He broadened the risk perspective of the organisation to risks outside the scope of the business itself and reinforced the importance of having long term strategies to address these needs or changes. This resulted in a revised operational strategy and investments in new capital projects, in addition to new reporting lines within the group for better efficiency. He focused on establishing ownership grids for the company’s risks. This he felt was necessary as many of the plant operations are a collaborative effort of many departments.

He helped with ENOC’s adoption of insurance risk engineering survey as a means to organisation resilience, where the company conducts a yearly insurance risk survey which covers plant operation, workforce resources, HSE compliance among other critical parameters. Along with the company’s insurance team, he has pushed for all observation and recommendation to be addressed by the business.

As an enterprise risk manager, he has an important role in how the organisation manages its risk and builds control and resilience as a means of achieving organisation goals and sustainability.

Clyde & Co was one of the first legal firms in the MENA region to establish a dedicated and specialised insurance practice more than 20 years ago. With nine partners in the region, the firm is capable of providing experts in every class of insurance business.

Clyde & Co’s insurance partners have deep roots in the region, collectively accumulating over 100 years of on-the-ground experience. This extensive local knowledge allows the firm to cater specifically to the Middle East insurance market and develop a comprehensive understanding of local practices and their interaction with the global insurance industry.

As pioneers in the region, the firm has acted for the first insurance entities to set up in the DIFC, QFC and ADGM and have been engaged by GCC governments to assist with drafting the laws and regulations underpinning the various compulsory health insurance schemes. More recently, the firm have provided legal input on the DEWS system in the DIFC, with the team currently engaged in several landmark jurisdiction cases which are reshaping the rules for dealing with insurance disputes in the region. The firm has also developed several innovative structures to assist its clients with the legal services they require.

Through its pro bono work, it has given support to organisations like Manzil, a non-profit education centre in the UAE that focuses on inclusion for other-abled children and the Sparkle Foundation in Malawi. The firm recently participated in a global Clyde & Co cares campaign that reached over 5,000 young people in the region.

Marsh McLennan has contributed to its clients and communities by delivering impact in the moments that matter and helping them build resilience amidst uncertainty.

The company’s Middle East business has expanded its growth potential, achieving double-digit growth in all markets and playing a significant role in the global growth of Marsh McLennan. The Middle East is one of the most diverse regions in Marsh, comprising of more than 70 different nationalities, with over 65% being millennials or Gen Z.

Marsh DIFC business, established over 15 years ago, has emerged as the cornerstone of its operations in the Middle East, and has grown and invested significantly in the region. As one of the earliest setups in the DIFC, Marsh DIFC now oversees the reinsurance placement of $1.5bn in premiums, demonstrating its role in the industry. Serving as the specialty and placement hub for India, the Middle East and Africa, Marsh DIFC boasts strong interconnectivity with its global network and a robust retail presence in the region. The company has the largest concentration of risk engineers in a single location globally, with 25 risk engineers and over 200 colleagues operating from DIFC.

It has been at the forefront of adopting AI and other innovations to enhance its placement practice, ensuring support and solutions to its clients. The company invests in its leaders' development through training, coaching and on-the-job learning opportunities to create a succession pipeline. The company’s new client engagement model focuses on understanding clients, their industries, their strategies, and unique challenges, with pillars including strategic planning, risk advisory, risk financing, unparalleled client service and the voice of the client.

Guy Carpenter, a global professional services and reinsurance broking firm, helps its client companies achieve their capital, growth and volatility goals. It responds to their unique needs with specialised expertise and bespoke solutions through reinsurance broking, deep analytics and strategic advice.

The reinsurance arm of Marsh McLennan, Guy Carpenter is an organisation functioning in the areas of risk and strategy. With more than 3,000 staff worldwide, Guy Carpenter places more than $50bn of premiums via 60 locations. It helps its clients diversify and strengthen their balance sheets, discover and develop new opportunities, and identify, mitigate and transfer risk.

It historically served its Middle East client base from London, and 10 years ago established a presence in Dubai to offer facultative solutions. In 2020, it implemented a long-held strategy to invest significantly in the Middle East and Africa region.

Guy Carpenter Middle East’s Dubai office is now the regional headquarters for India, Middle East and Africa region and it enjoys the trust and confidence of most of the insurers in the region, helping them grow their businesses, whilst simultaneously supporting reinsurers achieve their growth targets.

This trust has helped it become the largest reinsurance broker in the IMEA region for FAC and treaty that offers unrivalled treaty broking solutions, strategic advisory, analytics capability and facultative solutions. Known for its innovative approach to risk management, it is the market leader in all lines of business including its unique life and medical offering.

The company registered significant achievements during 2023-2024. These included GCAT MENA Earthquake Model launched in November 2023 and Gulf floods post event report in April 2024 and update in June 2024.

RGA, a global life reinsurer, relentlessly pursues innovation and delivers across major metrics, including client centricity, creative solutions, knowledge sharing, claims management, community support and consistent delivery.

By focusing on these metrics, the company has delivered on priority initiatives and has created strategic value for its partners.

In Middle East, the company holds treaties with over 104 cedents and has executed over 157 new reinsurance agreements in 2023. The record growth in new business value, its proactive capital management strategies, and the relentless innovation within its diverse business lines has positioned the life reinsurer as a pioneering industry leader.

RGA ended the year 2023 with $3.7tn of life reinsurance in force. In 2023 the company was also named to Fortune magazine’s list of the World’s Most Admired Companies and was rated number one by life and health insurers on NMG Consulting’s Global All Respondents Business Capability Index for the 13th consecutive year.

In the Middle East, RGA ME was ranked top on NMG Consulting’s 2022 survey of over 45 insurers across all GCC countries in all important functional areas, including: business management, client management, actuarial management, underwriting management, and claims management.

A trusted partner for facultative underwriting, actuarial expertise, and product development capabilities, during 2023, RGA Middle East saw a 19% increase in underwriting volume over the previous year, and despite these increased volumes, maintained a 24-hour turnaround in 93% of cases.

RGA’s comprehensive portfolio of mortality reinsurance products, a well-qualified local team of actuaries, underwriters, and claims specialists, customised pricing tools and training for its partners, and regular update of its pricing bases reflect relevant experience for various risks.

International General Insurance (IGI), the only reinsurer with Middle Eastern roots, has successfully expanded internationally. With a global network of more than 440 employees across eight offices over four continents, the general reinsurer recently opened offices in Bermuda and Oslo also. In 2023, it acquired the MGA Energy Insurance Oslo and renamed IGI Nordic.

May 2024 saw IGI launch a company box in Lloyd’s of London. This move supports IGI’s growth ambitions to thoughtfully increase its presence and widen its international distribution in carefully selected regions and markets.

Operating on a single balance sheet and cross-collaborating between eight offices allows IGI to adapt quickly, efficiently and effectively to changing environments.

The company’s performance has surpassed its peers, and its combined ratio has been consistently low over the past decade (average combined ratio of 87.7% over the last 10 years). The year 2023 was another record year for IGI with improvements across all parameters.

The combined ratio for 2023 (76.7%) was the lowest full year combined ratio in IGI’s history. IGI recorded a core operating return on average equity of 28.1% for the full year 2023, demonstrating consistent selective and disciplined underwriting, focusing on those lines with the strongest margins.

The company has built a reputation of business growth and retention, expanding from a small Middle Eastern insurer into an international specialty (re)insurance group writing more than 20 lines of business.

IGI’s flat structure and deep knowledge of its markets is critical to success. A truly international company, IGI has people on the ground in all its major markets, where understanding of local culture is essential for providing the best service to customers.

Westfield Specialty (ME) senior executive officer Lina Hantas demonstrates exceptional leadership and entrepreneurial qualities and is deserving of the Woman Leader of the Year Award. Lina was the first employee of Westfield Specialty Dubai in 2011. She joined as chief underwriting officer, commenced the book of business, built the team and established the brand in the Middle East and African region. In 2017 she was appointed CEO.

In her first five years Ms Hantas grew the business to $12m gross written premium. From 2016 to 2024, under her leadership Westfield Specialty Dubai’s book grew 175%. Every year under her direction the company consistently made a profit with a combined ratio of 70%. Regarding profit, from 2017 to 2021, annual underwriting profit ranged from $5m to $6.7m. In 2022, her team had an exceptional year with underwriting profit yielding $9m. In 2023, underwriting profit hit $6.7m.

Ms Hantas is responsible for motivating underwriters and the wider Dubai team to build a profitable portfolio, managing the business operations, leading marketing opportunities with clients and working with compliance and regulatory authorities.

This year, she managed to integrate the Dubai operation into the Westfield Group after the acquisition of ArgoGlobal in 2023. She partnered with legal counsel and the compliance team to obtain DIFC regulatory approvals and finalise the transfer of ownership successfully from ArgoGlobal to Westfield Group.

She worked on the optimisation of the operation; digitalised all internal processes, issuance of underwriting reports, policies issuance, credit, and premium collections. She did this by utilising the existing London syndicate technology to not incur extra costs.

Mr Mohammed Al Meraj is the chief operations officer at Bahrain National Insurance Company (bni), in the Kingdom of Bahrain. He has had a successful career and has been instrumental in triggering a cultural transformation at bni and the local insurance industry. His leadership skills and his technical prowess have led him to become the youngest COO in the insurance field on a countrywide scale as he was born in 1990.

His dedication and consistent performance had him climbing the corporate ladder in record time. He has risen to the challenge and continues to prove his mettle, earning the company many awards along the way.

With Mr Al Meraj leading the operations of the company, bni was awarded a Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” (Good) by AM Best.

Under his guidance, sustainability took centre stage when it came to the company’s initiatives, creating a pathway towards a greener, more sustainable future for bni.

Mr Al Meraj has been a strong proponent of bni’s digital transformation and enhancement of the customer experience as a main goal for 2024 and beyond. This will entail a sizable investment in enhancing the company’s digital infrastructure, promoting a paper-free environment, and a target of complete customer satisfaction.

He has been fostering partnerships in the market and diversifying bni’s channels to reach an even bigger share of the market. In terms of growth, he has devised plans to use a multi-faceted approach that addresses various aspects of bni’s operations.

A leader in the insurance and reinsurance industry in Saudi Arabia, Mr Fahad Al-Hesni is considered one of the pioneers in the field and has contributed significantly to the Saudi insurance and reinsurance sector. He is a very well-known figure in the Saudi insurance industry and the wider region. Currently he serves as senior adviser for Saudi Arabia’s Insurance Authority.

He served as managing director and CEO of Saudi Arabia’s only and first full-fledged reinsurance company, Saudi Reinsurance Company (Saudi Re) from 2011 until March 2024. Since he took the helm of Saudi Re, he managed to lead the company new levels.

Besides entrenching its position in the local market as a reliable partner to the Saudi insurance industry, during Mr Al-Hesni’s tenure, the company expanded to new markets with the opening of its branch in Labuan in 2013. Today, Saudi Re’s international business accounts for around 60% of its operations, offering facultative and treaty solutions both on a proportional and non-proportional basis with a A- (Stable) rating by S&P and A3 (Stable) rating by Moody's.

Mr Al-Hesni has also served as board member at PROBITAS Holdings (Bermuda and UK) and non-executive board member at PROBITAS 1492 Services between 2017 and 2024, an investment which opened the door for Saudi Re to access the Lloyd’s business.

He started his insurance career with Tawuniya in 2003 as manager of claims (P&C). Three years later he was promoted to vice president of property and casualty SUB.

Associate at the Chartered Insurance Institute, holding a master's degree in insurance and risk management with almost 40 years of experience in the Saudi Arabia and regional (re)insurance sector, Mr Al-Hesni today continues to contribute to the wellbeing and development of the industry.