The BOD of the ACAL met with the Insurance Control Commission in the first visit to the regulator following its election. The Acting Head of the ICC, Mrs. Nadine El Habbal, renewed its wishes for a successful mandate, and stated that the consultation process with the sector, represented by the BOD of the ACAL, will continue to bear positive fruits for all stakeholders, namely the insured persons. The discussions covered a broad range of topics and challenges of relevance to the present economic context as presented by ACAL’s president, Mr. Elie Torbey, turning the meeting into a thorough round-table discussion.
The Insurance Control Commission (ICC) has approved a number of transactions and appointments. These approvals were subject to standard regulatory and governance conditions, as implied by the prevailing regulations and by the Insurance Core Principles (ICPs) emanating from the International Association of Insurance Supervisors (IAIS).
The Insurance Control Commission has published its quarterly report on the insurance market for the first quarter of 2019. The report includes a number of dashboards extracted from the analysis of the quarterly regulatory forms filed by the insurance companies.
The Acting Head of the Insurance Control Commission Nadine El Habbal received a delegation of key executives from GenRe, which included Dr. Winfried Heinen, Chairman of the Board of Executive Directors of Gen Re, Dr. Alfredo Fetter Nathansky, Head of MENA, Mediterranean and Latin America, together with the regional director Mazen Abou Chacra.