by Natasha Keats {Original Article can be found here}

Attending conferences provides an opportunity for Axco to expand our industry knowledge as well as an excellent forum to meet with customers and contacts to exchange ideas. Ken Maw, MENA Regional Ambassador for Axco recently attended the Sharm El Sheikh Rendezvous. This first rendition, of what will be an annual event, brought together re/insurance industry professionals from all over the world, a large contingent of whom came from the MENA region. Ken met with many of the key movers and shakers including a brief meeting with Egypt’s Minister of Finance, Minister of Public Enterprise and the Governor of South Sinai who were present for the opening ceremony.

The conference theme “Spreading Precious Ideas” reflected the collective desire to improve the future of the industry. Over 2 days, delegates were treated to a series of very well-presented panel discussions and keynote presentations, conducted mainly in English but audio headphones with simultaneous translation were readily available to ensure everyone could benefit from the various discussion topics.

An Exhibition Area outside the main hall was a showcase for many major industry players and providers as well as private meeting rooms. All in all, plenty of opportunities to mix, network and build new friendships throughout the region.

The main learning point was the potential spoken of the Egyptian Insurance market. Although still relatively small, it is one of the fastest growing in the world with plenty of untapped potential. Experts expect it to expand in double-digit figures and it will no doubt benefit from large-scale infrastructure projects across all major sectors including oil & gas, mining and power as well delving into other commercial lines and the massively untapped individual personal lines business where the subject of “Micro Insurance” opportunities was highlighted. Unsurprisingly this scope for development echoes the views from Axco’s insurance market report.

My thanks and congratulations are extended to the organisers for what was an excellent program, I am sure with the success of this first such event at Sharm El Sheikh, the future renditions will become even grander.