Mr. Ashraf Bseisu
Chairman - Bahrain Insurance Association (BIA)



1. What is your outlook on the state of the regional economy? When will we start to see recovery?

I believe that the regional economy was quite robust even during the peak of the crisis. The outlook is for the regional economy to grow modestly for 2009 and continue growth momentum in 2010 and beyond. I believe we have already begun to see signs of recovery, but will take more affect in the first half of 2010.

2. What is your outlook on the Bahrain insurance market, and the new compulsory medical insurance law proposed?

The market is quite well positioned and experiencing growth, as the statistics show. The new compulsory medical insurance law for expatriates is currently with Parliament. Once introduced, it will undoubtedly provide a catalyst for accelerated growth in this sector.

3. There has been much debate about the need for the mandatory training of entry level insurance staff in Bahrain. What do you see as the roles of the CBBBB and BIA moving this forward?

We at the BIA have taken on Board as a core objective the development Bahraini HR in the market. There are a number of initiatives already in place in the market. Going forward I believe the CBB and BIA will be working on the introduction of a qualifications matrix highlighting minimum qualifications for respective job levels.

4. Reflecting on the Gulf Insurance Forum held in Bahrain, would you like to see more insurance conferences being held in the Kingdom?It is no secret that contrary to the lack of participation at some events in other parts of the region, every conference held in Bahrain seems to always be a hit and well attended. Why is that do you believe?

I think the issue is not of quantity but more so quality. Bahrain is of course a favored MACE destination, but its success in attracting delegates has been the solid organization, quality of program and speakers, and delivery of conference/forums that are unique and different in form, content, and structure.