Zurich Insurance, Reinsurer of the Year at the 5th Middle East Insurance Industry Awards

29 November 2018 — Daniela GHETU
The 5th Middle East Insurance Industry Awards (MIIA) gala dinner held in Dubai on 26 November saw Zurich Insurance winning for the second consecutive year the Reinsurance Company of the Year award.

According to the gala's jury, the company sets itself apart from its competitors, among others, by being the only commercial underwriter in the Middle East with the direct decision-making ability to write business in areas such as cybercrime, environmental, and food safety and product recall."

Overall, fifteen industry heavyweights took center stage at the 5th MIIA gala dinner, beating more than 300 entries from across the MENA region to emerge victorious.

RAK Insurance clinched the inaugural Digital Initiative of the Year award for its commitment to enhancing its digital services to provide the best customer experience. Health at Hand fought off stiff competition to bring home the Innovation of the Year award - a hotly contested category - for its leading telehealth app which gives consumers access to the care they need without stepping into a clinic.

For the third year in a row, NEXtCARE, a member of Allianz Worldwide Partners, won the TPA of the Year award in recognition of its ability to provide innovative and cost-effective healthcare solutions to its clients in the MENA region.

The big winner of the night was Orient Insurance - sweeping up both the Life Insurance Company of the Year award for the third time and its first Health Insurance Company of the Year award - another popular category.

Gulf Insurance Group (GIG) board member and group CEO Khaled Saoud Al Hasan claimed the coveted Personality of the Year title. An industry veteran, Mr Al Hasan is well-regarded among his peers and recognized for his dynamic leadership of the company for over four decades.

"This year, in line with the world going all tech and disrupted, we have introduced a new category to recognize the insurer making the most effort to embrace digital initiatives. The most hotly contested category is in innovation, bearing testimony to the fact that the Middle East is just as open to change as any other market in the world," said Mr Sivam Subramaniam, editor-in-chief of Middle East Insurance Review and organizer of the awards.

The full list of the 5th MIIA winners is as follows:

Life Insurance Company of the Year
Orient Insurance PJSC

General Insurance Company of the Year
Emirates Insurance Company

Health Insurance Company of the Year
Orient Insurance PJSC

TPA of the Year

Takaful Company of the Year
Abu Dhabi National Takaful Co PSC

Educational & Training Initiative of the Year
Bahrain Institute of Banking & Finance

Innovation of the Year
Health at Hand

Digital Initiative of the Year
RAK Insurance

Service Provider of the Year
Milliman LLC

Corporate Risk Manager of the Year
Ms Elsa Goutveniger, Majid Al Futtaim

Law Firm of the Year

Broker of the Year
Howden TMEA

Reinsurance Broker of the Year
Chedid Re

Reinsurance Company of the Year
Zurich Insurance Company Ltd

Personality of the Year
Mr Khaled Saoud Al Hasan, Gulf Insurance Group (GIG)

The MIIA, organized by Middle East Insurance Review and supported by DIFC, DIFC IA, FAIR and GAIF, is lauded as the premier awards of the MENA region with clearly defined criteria and a transparent judging process. A panel of 14 distinguished judges were involved in the assessment of the nominations this year. The results were independently audited by EY. Sponsors this year include AIG, Arig, Chedid Re, Lloyd's, MEDGULF, Oman Insurance Company, RGA and Zurich.

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