Alaa El-Zoheiry, chairperson of the Insurance Federation of Egypt (IFE) said during a televised interview, that ‘Sharm El-Sheikh Insurance, Reinsurance Rendezvous’ will benefit Egypt in general, and the insurance industry specifically in many ways.

The IFE announced that the first annual ‘Sharm El-Sheikh Insurance and Reinsurance Rendezvous’ will be held from 28 to 30 October 2018 in Sharm El-Sheikh, under the theme of “spreading your precious ideas”. The event will be held under the auspices of the Ministry of Public Enterprise Sector, and the Financial Regulatory Authority.

El Zoheiry explained that there are several benefits for holding this ‘Rendezvous’, including that the attendees of the event reserved about 3,000 tourist nights in Sharm El-Sheikh, which contributes to promoting and reviving tourism in Egypt.

“It is also a good opportunity to attract new foreign investments in the insurance sector, in addition the ‘Rendezvous’ allows Egyptian insurance companies to negotiate with reinsurance companies to renew reinsurance contracts,” he added.

El-Zoheiry told Daily News Egypt that the ‘Rendezvous’ aims to provide a unique opportunity for the participating delegations to take advantage of the experiences from different markets, in order to develop the Egyptian insurance industry.

He stated that the ‘Rendezvous’ is expected to witness the participation of over 2,000 experts from the insurance and reinsurance industry, of which half are expected to be from the international insurance market.

The ‘Rendezvous’ will include about 25 speakers, of which about 18 or 19 are from the international insurance and reinsurance markets, including companies such as Marsh, Willis Towers Watson, Hannover Re-Takaful, Swiss Re, and SCOR Glob, indicated El-Zoheiry.

The IFE announced earlier that the ‘Rendezvous’ will discuss four important axes, which are the best global practices in insurance and reinsurance, what is new in the international market, what needs to be developed in the brokerage business in the Egyptian insurance market, and discussing the challenges and opportunities of the insurance and reinsurance market in Egypt.

The ‘Rendezvous’ will also tackle the most important challenges in meeting the needs of the insurance industry’s customers, as well as the role of global block technology in the insurance sector, and its consequences for customer service development.