Dead Sea, Oct. 5 (Petra) -- Jordan on Monday took over as President of the General Arab Insurance Federation (GAIF) Council at the opening of the federation's 35th General Conference at the Dead Sea.
Majed Smairat, Chairman of the Jordan Insurance Federation (JIF), received the presidency from Nassir bin Salim al-Busaidi, chairman of the Omani Insurance Association.
Smairat said the future of the Arab insurance industry requires more cooperation and integration among markets, investment in knowledge and skills, and development of legislation and products to enhance the sector's ability to face new risks and rapid changes.
Jordan's selection to host the conference and the attendance from various markets reflect confidence in the Kingdom's role, he pointed out.
He said the conference's theme, "Insurance: Back to Basics," calls for moving confidently toward the future while adhering to the industry's professional foundations and protecting policyholders' rights.
JIF CEO Moayad Kloub said at the handover ceremony that the new presidency is a responsibility to serve joint Arab insurance work.
The conference's higher organizing committee honored outgoing GAIF Chief Busaidi for his efforts over the past two years.
//Petra// NQ
