Central Bank Governor Opens Arab Insurance Conference
The General Arab Insurance Federation conference in the Dead Sea discussed the importance of strengthening cooperation among Arab insurance markets and developing the sector to confront rising risks. The goal is to increase the contribution of insurance to the Arab gross national product from 1.7% to 3%. Participants pointed out that the volume of insurance premiums in the region reached approximately $70 billion by 2025, with a focus on improving financial solvency, updating legislation, and leveraging technology such as digitization and artificial intelligence to enhance the sector's sustainability and protect policyholders' rights. The conference serves as a platform for exchanging expertise, developing products, and discussing challenges posed by disasters, pandemics, and cyberattacks.
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