The recently concluded SOA Regional Symposium in Riyadh, held from November 18 to November 20, 2023, showcased the significant role of actuaries in the evolving landscape of the Middle East insurance markets.
As a prominent actuarial advisory firm in the region, SHMA Arabia made a significant mark at the event, both as a Gold Sponsor and through the active participation of its key representatives.
Key Sessions Led by SHMA Arabia:
- Muhammad Usama Dangra’s Moderation Excellence:
Muhammad Usama Dangra, Director of SHMA, demonstrated his leadership and expertise by moderating Session 3 on Sunday, November 19. The session, held from 11:45 AM to 12:45 PM, explored the imperative need for consolidation in the Middle East insurance markets and explored recent regional trends. Usama’s engaging moderation fostered a comprehensive discussion, featuring C-level executives, actuarial experts, and financial advisors.
- Syed Shiraz Anwar’s Insightful Session on IFRS 17:
Syed Shiraz Anwar, Senior Manager at SHMA, played a crucial role in Session 7 on Monday, November 20. His session, scheduled from 9:30 to 10:25 AM, simplified the complexities of IFRS 17 and IFRS 4. Shiraz’s presentation went beyond the basics, focusing on lesser-known and underappreciated concepts associated with these accounting standards. Using illustrative examples, he bridged the gap between accounting and actuarial impacts on financial statements, offering valuable insights to the symposium attendees.
SHMA Arabia as a Gold Sponsor:
As a Gold Sponsor of the SOA Symposium, SHMA Arabia demonstrated its commitment to advancing actuarial excellence in the region. The firm’s sponsorship contributed to the success of the event, supporting the gathering of industry leaders, experts, and professionals for knowledge exchange and collaborative discussions.
Symposium Program Highlights:
The symposium featured a comprehensive program that addressed a spectrum of topics, encapsulating the essence of actuarial excellence with both local and global significance. The diverse sessions covered crucial aspects of the actuarial profession, reflecting the dynamic nature of the industry.
Testimonials on SHMA’s Contributions:
Shiraz’s presentation on Day 2 received praise for shedding light on lesser-known concepts of IFRS-17. Attendees appreciated the illustrative examples and the practical approach taken to explain the intricate aspects of the accounting standard.
Usama’s moderation of the mergers and acquisitions discussion in the Middle East insurance market garnered positive feedback. The panel discussion, featuring C-level executives, actuaries, and financial advisors, covered various facets of these transactions, from regulatory challenges to post-merger dynamics.
SHMA Arabia takes pride in its impactful representation at the SOA Regional Symposium, reinforcing its commitment to driving excellence in actuarial practices and contributing to the advancements in the Middle East insurance sector.
Stay tuned for more updates on SHMA’s active involvement in shaping the future of actuarial practices and the insurance industry.
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