Symposium on insurance problems held [Archives:2002/36/Local News]

September 2 2002

SANA’A-Organized by the Yemeni Insurance Federation in collaboration with the Kuwait Reinsurance Company, a two-day symposium focusing on energy risk insurance was held at the Sheraton Hotel in Sanaa during 25-26 August.
During the opening session of the symposium, Saad I. Makki, Assistant General Manager of the Kuwait Reinsurance Company placed great emphasis on the significance of holding such symposiums on oil and energy insurance in Yemen and the region.
?This symposium will be of great importance to insurance companies in informing individuals working in those companies about energy insurance matters that may emerge in the future.
The Kuwait Reinsurance Company has been operating since the 1970s and has a good share in the Yemeni market. Cooperation fields between the Kuwait Reinsurance Co. and the Yemeni Insurance Federation are heading for a better and brighter future. This has manifested itself in holding symposiums and in exchanging visits with the aim of enhancing cooperation and relations with our brothers in Yemen,” said Mr. Makki.
“We hope that the Kuwait Reinsurance Co. will constitute a link between the Yemeni and international markets. We are glad that we have signed contracts with most of the Yemeni insurance companies during the 1970s and 1980s,” Makki added.
Ali Hashem, the Chairman of the Yemeni Insurance Federation said that one of the priorities given to the federation was represented by raising the level of insurance awareness among those who work in the insurance field in particular, and among the Yemeni public in general.
Participants during the symposium dealt with the risks in energy insurance, and specifically in gas and oil insurance.
Tariq Abdulwas’i Hayel, the General Manager of United Insurance Company made it clear that the symposium basically aims at establishing relations with international insurance companies. “A number of oil companies and some of the Yemeni businessmen and investors have been invited to participate in this symposium with the objective of getting aquainted with oil insurance and establishing stronger relations with international insurance companies.” he said.
The Kuwait Reinsurance Company was the sole sponsor of this activity.