AIG to Work with Hawkamah to Promote Corporate Governance in the MENA Region
AIG to Work with Hawkamah to Promote Corporate Governance in the MENA Region
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Hawkamah Institute for Corporate Governance (Hawkamah) today announced a sponsorship agreement with AIG MEMSA Insurance Company (AIG), AIG is part of the American International Group Inc which is a world leader in insurance and financial services, to support the progress of corporate governance across the Middle East and North Africa. The alliance allows Hawkamah to access and utilize AIG's vast global resources, in terms of experts and research, and represents another significant step towards achieving Hawkamah's strategic objectives of raising awareness and further advancing corporate governance in the region. Dr. Nasser Saidi, Executive Director of Hawkamah, outlined the significance of this partnership: "It is very encouraging that AIG, one of the world's leaders in insurance, is offering its support to Hawkamah and championing the cause for sound corporate governance in the insurance industry across the region.  Through this sponsorship agreement, AIG is supporting an independent initiative which is improving the understanding of corporate governance in the MENA region, with a particular focus on the insurance industry.  In turn, we have gained endorsement from a global player in the insurance field, and with its name and reputation also comes invaluable expertise, which will help develop a robust corporate governance framework that can be introduced to insurance companies throughout the region." As part of the agreement, AIG will sponsor the Hawkamah Forum of Insurance Regulatory Commissions (AFIRC) Insurance Taskforce on Corporate Governance.  Launched in April, the Hawkamah - AFIRC regional initiative is expected to finalize its mission mid 2008.   The Insurance Taskforce forms part of Hawkamah's regional initiative to advance and improve corporate governance in the insurance industry through promoting best practice. The Taskforce brings together the insurance industry and regulators to develop a corporate governance framework for the insurance industry in the Arab world.  The key objectives of the Taskforce are to: undertake a corporate governance assessment of the insurance sector in participating Arab countries; develop an insurance corporate governance policy brief to include conventional insurance and "Takaful"; develop corporate governance guidelines for the insurance sector; and build the corporate governance capacity of the industry. Charles Bouloux, President, AIG-MEMSA, praised Hawkamah's work and underlined AIG's commitment to the initiative: "The Insurance Taskforce that Hawkamah has formed is crucial in developing a sound corporate governance framework for the insurance industry.  It is our aim to support Hawkamah in its ambitious endeavours through promoting, endorsing, and driving the mission of the Taskforce for the insurance and reinsurance industry in the MENA region.  Whilst the MENA region is becoming an increasingly important market for us, the insurance industry still needs to fully embrace corporate governance in order to achieve its potential, and we are delighted to be playing a part in driving this initiative forward." Hawkamah is an autonomous, regional entity whose mission is to assist countries and companies of the wider MENA region in developing sound and globally well-integrated corporate governance frameworks and practices. American International Group Inc, world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world.

Testimonials

  • ‘’There was no doubt that once we communicate with Hawkamah for a workshop, we were sure that we will achieve our goals and get an added value. And thats what happened; we got a lot of positive feedback from participants which confirms the success of the company secretary 2 days workshop which took place in Manama – Bahrain as well as the fruitful feedback on the knowledgeable and insightful trainers and experts. We would be more than happy to have such cooperations in the future since we consider Hawkamah our patterner in success’’

    Faisal Al-Modlij - GM, Corporate Affairs and Governance - Sipchem KSA

  • "We extend our thanks and appreciation to Hawkamah institute for its cooperation and the effectiveness of the Director Development Program"

    Saeed Al Kaabi - Abu Dhabi Monitoring and Controlling Centre(ADMCC)

  • "The Director Development Program was very rich in useful information and added a lot to us, and the trainers’ experience, skills and capabilities had positive impact on delivering the information to us in a direct and clear manner"

    Hamad Al - Tamimi - Osool Asset Management

  • The corporate Governance in all type of entities adds morality and ensures implementation of the best practices to fulfill the responsibilities of those entities and to ensure the rights of all parties involved, especially those who have no authority to participate in the decision-making cycle.

    Hawkamah institute contributed to enrich the knowledge of these responsibilities and the role of governance for the success of institutional work in accordance with principles that establish values and ethics.

    Ajman Municipality

  • '‘Excellent, well delivered, informative program presented by well-seasoned trainers. The training program has helped transform and empower the Board’s vision and focus our minds on the relevant issues at hand. We sincerely thank you for the training sessions which helped broaden our perspective and decision making processes. We strongly recommend this training to elevate directors to the next level".

    Bank of Maldives

  • "I would like to thank Hawkamah for the ESG Reporting training , I found the two days ESG Reporting training very informative and helpful and I have definitely received some tools that I will use in my work"

    Rania Zaatari - Head of Makassed Communal Healthcare Bureau

  • "The DDP provides a solid foundation of corporate governance for existing and aspiring directors."

    David Haglund - Senior Executive Director and Portfolio Manager of the Templeton Frontier and MENA Market strategies

  • “Thank you so much for sharing such insightful webinar. It was great and valuable to all participate”

    Shady Rashed - Senior Economic Researcher at The Ministry of International Cooperation of Egypt

  • “Good session and very well organized on the webinar about How to buffer and lessen the impact of the novel Covid – 19, to maintain business sustainability with Hawkamah - AUB / Makhzoumi” 

    Bilal Hamade - Executive Advisor

  • "One of the best webinars I attended. Well done OSB Makhzoumi and Hawkamah”

    Fida Kanaan – Director – Executive education  OSB AUB

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