Onshore Energy Conference — Dubai Onshore Energy Conference — Dubai 02 | Page 21

The DIFC Insurance Association (DIFC IA) was set up in mid‑2015 to act as a forum for the exchange of views on market issues, and contribute to the development of the insurance market in the DIFC as a specialised centre of excellence. At the 1 st Annual General Meeting in June 2016, to mark our 1 st Anniversary, we have pro-actively identified strategic work programmes to move forward to support the cause of our members. The DIFC IA serves as an advocacy group on behalf of the members and attends to the needs of the members in their high priority areas, as well as collating data for the DIFC Market. The Association currently has a strong membership of 49 members representing the leading players in the DIFC market and we are actively working to ensure that the DIFC IA is a representative body of the insurers, reinsurers and brokers operating in the DIFC. With the continued growth of the (re)insurance market at the DIFC, the DIFC IA is well positioned to shape the market for future growth and development. Over the coming two years, the Association is planning to extend its activities outside of the DIFC, such as, collaboration with local insurers and regulators, and then expanding these activities to other markets in the region. Furthermore, the DIFC IA strives to position the DIFC market as the premiere reinsurance hub in the region. We would like to see the DIFC market become a true subscription market that serves the needs of the regional insurance industry. Dr. Bassel Hindawi — Chairman / CEO [email protected]