The insurance industry in Libya is going through a transition period but the country’s oil wealth is bound to drive investments in almost every sector of the economy. “Al Qafela builds on its current and future clients with expertise, high quality insurers and reinsurers and offers tailor-made services and products,” says Abdurazag I. Almegerab, Chief Executive Officer of Al Qafela Insurance Company. Almegerab has 41 years of management and insurance experience and he says that his new plans will be aimed at new opportunities and new ventures amidst the expected economic boom of his country. He is methodical in his work and is fully aware of the current market scenario as he tries to get ahead of competition. Almegerab holds a masters degree in insurance from West Hartford, Connecticut, USA.

The insurance industry landscape that has emerged from the turmoil of the financial crisis is different from what it used to be. Insurance and Reinsurance companies are back to the basics of writing business for profit. (Re) Insurers can no longer absorb underwriting losses from investment income.

ITS is a leading international Islamic Banking solution provider that lives and breathes Islamic values and culture. The company has successfully combined this with its technology prowess to produce ‘ETHIX’, a next generation solution portfolio offering Islamic finance institutions Sharia-compliant products and a range of pre-defined business models including Islamic finance, Islamic investment, trading and delivery channels.

Walid Jishi, Chairman and Chief Executive Officer of Arab Loss predicted the chronic need for native loss adjusters in the Arab World who understand the political and cultural business environment to provide the service that was dominated by foreign adjusting practices.