IFoA Middle East Conference 2024: Riyadh

Please note

All times are AST (BST +2 hours)

Booking for the Riyadh stage of the conference is now closed.

Sat 11 May 2024, 17:00 -
Sun 12 May 2024, 18:10

Welcome to the inaugural IFoA Middle East Conference, where industry leaders, aspiring professionals, and experts converge to shape the future of actuarial science in the region.

Join us in Riyadh for dynamic discussions, insightful sessions, and unparalleled networking opportunities. Watch this space for the full list of speakers and topics.

It’s an opportunity to:

  • gain valuable insights into emerging trends and developments in actuarial science, risk management, and financial services
  • network with fellow professionals, thought leaders, and key decision-makers from the Middle East and around the globe
  • explore innovative solutions, best practices, and case studies presented by renowned speakers and industry experts
  • elevate your career prospects, expand your knowledge base, and stay ahead of the curve in today’s rapidly evolving landscape


Activity Time Details
IFoA student event 16:15 - 17:00
Conference registration and networking reception 17:00 - 19:00
Activity Time Details
Registration 08:00 - 08:45
IFoA President update 08:45 - 09:00 IFoA President update Read more

IFoA President Kalpana Shah

Kalpana brings 30 years of business experience in the insurance and investment industry. She was longstanding Group Chief Actuary and Partner at Hiscox until 2016. She is now one of a handful of female Chairs in the insurance industry, a non-executive director of several organisations and a member of the Capacity Transfer Panel for Lloyd’s of London.

She is also a liveryman of the Worshipful Company of Insurers and member of Court of the Worshipful Company of Actuaries. She has Chaired and contributed to committees for the IFoA, Bank of England, Lloyd's of London and the Bermuda Monetary Authority. In the early stages of the COVID-19 pandemic, Kalpana headed the first voluntary team of actuaries helping the UK’s National Health Service with emergency analytics and planning.

Kalpana is a regular judge for the Women in Insurance Awards and a frequent speaker on insurance and diversity related topics. Over the years she has been recognised for her work by organisations including the Institute of Directors, Financial Times, Cranfield University, Insurance Insider and Brummell Magazine.

Keynote address 09:00 - 09:30 Keynote address Read more

H.E Mr Abdullah Al-Homid, Deputy of Supervision, Saudi Arabia Insurance Authority (IA)

CEO panel 09:30 - 10:30 CEO panel Read more
  • Moderator: Safder Jaffer, Managing Director and Principal, Milliman
  • Umar Al Mahmoud, CEO, Medgulf
  • Johnson Varughese, CEO, Walaa
  • Anuj Agarwal, CEO, Allianz Saudi Fransi
  • Ahmad Al-Qarishi (Chief Underwriting Officer, Saudi Re)
  • Ehab Al-Atassi, Executive Director, National Casemix Center of Excellence
Head of actuarial (HAF) panel 10:30 - 11:30 Head of actuarial (HAF) panel Read more
  • Moderator: Samih Geha, Chief Actuary, Nitaq
  • Nasser Aljudayi, Director of Actuarial and Analytics, Bupa Arabia
  • Tarek Alameh, Senior Executive Director – Actuarial, Tawuniya
  • Khurram Amin - VP Actuarial, Al Rajhi
  • Mahmoud M Almalki, Actuarial Studies General Manager, GOSI
  • Dana Barhoumeh, Chief Actuary, Saudi Re
Refreshments and exhibition 11:30 - 12:00
Actuaries in the Middle East 12:00 - 13:00 Actuaries in the Middle East Read more

What are the opportunities for actuaries in the Middle East? There are clear trends targeting insurance penetration related to, for example, Vision 2030, as well as potential changes to reserving approaches. But how should the actuarial profession approach this? This is a key issue for the actuarial profession in the Middle East, but also for actuarial communities around the world.

Paul Sweeting, Senior Advisor, Hassana Investment Company and Board Member, Tawuniya

What will it take to develop the actuarial profession in the GCC?

Certainly, there is no shortage of demand for actuaries in the GCC nor in shortage of the supply. So, what are the problems and what should be done about it?

Ibrahim Muhanna, Managing Director & Actuary, Muhanna & co. (Actuaries & Consultants) and Chairman of the Board of Trustees, The Muhanna Foundation

Lunch and prayer time 13:00 - 14:10
Transfer time 14:10 - 14:20
Workshop A1 14:20 - 15:10 Saudi Arabia’s new risk-based capital requirements Read more

This session provides a comprehensive benchmarking analysis. It compares the key principles, methodologies, and quantitative requirements of Saudi Arabia’s risk-based capital regime with the Solvency II directive.

It also explores the potential challenges and pitfalls to anticipate during the transition. This part of the discussion draws from the collective experience of insurers that have undergone similar transformations under Solvency II or other risk-based capital regimes.

Raghav Ohri, Lux Actuaries and Consultants

Workshop A2 14:20 - 15:10 Vision 2030: the role of actuaries Read more

As part of Vision 2030, Saudi Arabia is embarking on a transformation of its health system to make it a global model of excellence on all fronts. This includes reforms in healthcare payment and financing. The presentation focuses on the healthcare transformation objectives and the roles actuaries can play within key stakeholders to make this a success.

Neha Taneja and Samar Badran, National Casemix Center of Excellence

Transfer time 15:10 - 15:20
Workshop B1 15:20 - 16:10 Analysis of reinsurance programmes and their optimisation Read more

This session addresses the critical theme of reinsurance optimisation, exploring it as a potential source of savings for insurers. Through real-world case studies and interactive discussions, participants will gain practical knowledge and actionable strategies to enhance their reinsurance practices. This will provide them with the ability to align objectives with business goals, implement practical strategies, and enhance return on capital while controlling volatility.

Yasmin Al-Mutawa and Gero Niessen, WTW

Workshop B2 15:20 - 16:10 Not only an actuary Read more

In this talk, Salama Abusalim shares her experiences of a career break. A decision that was hard to take after 14 years of study and work. Through her personal story, she explains how taking a break can help in developing other identities and applying actuarial skills in other fields of life. This session is a pre-recorded presentation.

Salama Abusalim, Allied Actuarial Consultancy

Refreshments and exhibition 16:10 - 16:50
Transfer time 16:50 - 17:00
Professionalism 17:00 - 18:00 Read more

Hatim Maskawala, Badri Management Consultancy

Chair’s closing remarks and conference close 18:00 - 18:10

Featured Speakers

Insurance Control Core Deputy at the Insurance Authority in the Kingdom of Saudi Arabia

Mr Abdullah, the Insurance Control Core Deputy at the Insurance Authority in the Kingdom of Saudi Arabia, maintains a distinguished career spanning 15 years marked by transformative leadership and visionary stewardship in insurance regulation.

Previously serving as the Director of the General Department of Insurance Control at the Saudi Central Bank (SAMA), Mr Abdullah played a pivotal role in establishing the regulatory framework. He holds a Bachelor's degree in finance and and a Master’s degree in business administration.


Knowledge partner: The Financial Academy

The Financial Academy logo

Thank you to our sponsors and exhibitors


Sheraton Riyadh Hotel & Towers, King Fahad Road, Riyadh, 11623, Kingdom of Saudi Arabia

Events Team

Contact our Events Team for more information.