In his opening remarks, Fahad Al-Hesni, CEO Saudi Re,
said: "The topic of the seminar was stimulated by discussions with some of
our clients. Analyzing volatility and capital allocation per line of business
can provide valuable insights in respect of developing a reinsurance strategy
as well as a business strategy, and this seminar is intended to shed light on
how to benefit from actuarial analysis." He also added: "This comes
as part of a series of seminars covering a spectrum of topics, which Saudi Re
hosts for its clients across different markets."
Other speakers were Saudi Re's chief underwriting officer
Andreas Bollmann, who discussed the value proposition of reinsurance, Chief
Risk Officer Ameer Batcha, who led a session on solvency regimes and risk based
capital, and Safdar Jafar, Milliman's managing director Middle East and Africa,
who discussed the value of actuarial modeling.
Saudi Re, an S&P BBB+ rated reinsurer, has recorded a
growth rate of 60 percent in the first half of 2011. Saudi Re is a listed
reinsurance company with highest capital in the GCC of SR1 billion ($267
million).
