Menu
Search
Saudi Central BankSaudi Central BankNewsAlfreah’ Speech on the opening of the Underwriting and Risk Engineering Seminar
News
الاخبار
Alfreah’ Speech on the opening of the Underwriting and Risk Engineering Seminar
11/6/2017 12:00 AM

                I am pleased to welcome you all on this day in which we inaugurate the third symposium on underwriting and risk engineering which is being presented to the Saudi market by the Swiss Reinsurance Company (SWISS RE) in cooperation and coordination with the Executive Committee of Saudi Insurance Companies and the Financial Institute.

 

                The interest and commitment proven by the continuity of this symposium are two things that deserve praise and appreciation by us at the Saudi Arabian Monetary Authority. It is at the core of our concerns to develop knowledge and professional standards for workers in the sector in a way that serves the Saudi economy and contributes to its development and growth. This has been the case especially since the rapid positive changes that accompany the work of all economic sectors in the Kingdom to achieve the vision of the Kingdom 2030 requires that all economic sectors be ready to keep pace with modernization and renewal and adopt the best international practices.

 

                In all fields, including the most important of which is the adoption of the necessary engineering standards, whether when subscribing to risks or when examining and evaluating them to provide the necessary insurance coverage, especially for major and modern projects expected to be established in the Kingdom in the near future.

 

                Your role in the insurance sector in the modern sense does not stop when calculating the appropriate insurance premium for the risk presented to you, but goes beyond that to include providing advice, guidance and experience to those seeking insurance from the owners of industrial and commercial establishments, whether in the design and construction stage or during operation, and this important role undoubtedly contributes to stopping waste Economic and helps to save, manage and maximize the use of resources.

                When viewing the program of this symposium, my attention was drawn to the effective contribution I noticed by the General Administration of Civil Defense in presenting practical experiences and lessons learned, adding great practical value to this symposium. Therefore, I salute the efforts of the brothers in civil defense for their cooperation and positive participation in developing professional and technical standards. For workers in the insurance sector.

 

Brothers and Sisters

                We in SAMA are pleased to note in a tangible way the increase in the number of Saudi specialists in various technical professions in the insurance sector. There is no doubt that these efforts are appreciated by the Insurance Committee and the Financial Institute for cooperation with major international and specialized companies that contribute effectively and are consistent with the efforts of SAMA in the localization of technical and leadership professions in the insurance sector.

                In conclusion, I offer my sincere thanks to the organizers and supporters, and my wishes for attending the symposium with success and benefit from it. I especially thank SWISS RE for its contribution and support to the Saudi insurance sector.

Vice Governor
Enterprise Keywords