Oman Insurance Company announces appointments in senior management

Oman Insurance Company (PSC), the leading insurance services provider in the UAE and region announced the appointment of a new senior management team. End Quote

(1888PressRelease) January 10, 2012 - Patrick Choffel, CEO of Oman Insurance Company commented, "We are pleased to attract the best caliber of executives into the organization. This will enrich and add to the overall professionalism of our Company. The new team with a strong regional experience is set to implement the strategies defined for further growth and maintain our leading position. The Regional insurance industry does have a great potential and we are ready to tap into new opportunities and develop innovative solutions for our customers.

The first members to have joined are:

Ceri Weaver - New Head of Internal Audit:

Ceri is a Chartered Accountant from the United Kingdom and holds a Bachelor of Science degree with Honors in Mathematics from the University of Bath. With a long experience in both internal and external audit, finance, compliance and risk management, Ceri has worked with several reputed organizations such as MetLife Alico & AIG. He also has several years of Middle Eastern experience.

Bo Werkstrom - New Head of Life and Medical:

Bo worked in various senior positions in leading companies, such as Assicurazioni Generali S.p.A. - Dubai as Senior Actuary and GMD Regional Credit Life Underwriter & Business Development Manager in ALICO MEASA, prior to which he was part of Hannover Re in Paris overseeing the MENA Region.

Nicolas Kouchnir - New Head of Bancassurance Unit:

Nicolas has over a decade of International Insurance experience, his specialty is Bancassurance, Strategic Planning and Business Development. He began his career with CIGNA in Europe and went on to work with International brokers AON and Willis, in the capacity of Divisional Director for Bancassurance.

His Regional experience includes more than 4 years in the Middle East, as Regional Profit Centre (Credit Life) Manager with ALICO, Dubai and then as Vice President of Corporate Sales with Al Rajhi Takaful, Riyadh - KSA, where he achieved a sustainable growth model for his company.

Robert Pereira - New Head of Distribution:

Robert has over 20 years of international general insurance experience in diverse senior executive roles in the Middle East, Latin America, South Asia and the USA. A graduate of both Concordia and McGill Universities, Robert also qualified as a chartered accountant in 1989.

For the last six years Robert served AIG as the General Manager for their UAE operations. He also served as Chief Financial Officer and Chief Risk Officer for several AIG regional operations. Robert's exposure to the industry is global - yet tempered with critical experience in the Middle East."

Bilal Adhani - New Head of Branches, Local and International:

Bilal has over 18 years of International General Insurance experience in the Middle East region, where he held various senior executive positions in both direct insurance companies and brokerage.

He started his career with UAP, where he was responsible of managing Abu Dhabi branch. He then moved to AIG and held various senior positions amongst which, Regional Personal Lines Manager - Middle East, Chief Operation Officer of AIG Egypt, and his latest assignment was the Managing Director of AIG Saudi Arabia. For the last two years, he served as the Regional Managing Director for Chedid direct brokerage firm. His extensive experience in the region has enabled him to build and grow successful operations.

Senior Executives are about to join and continue reinforcing our team and help Oman Insurance to maintain and enhance its leadership position." Mr. Choffel concluded.

About Oman Insurance Company:

Oman Insurance Company (OIC) is one of the largest insurance companies in the UAE, headquartered in Dubai; OIC has 19 fully operational branches including service centers spread across the UAE as well as a strong presence in the neighboring countries of Oman and Qatar.

Established in 1975 by a UAE Federal Decree, OIC is a composite insurer with an annual gross written premium of AED 2.44 Billion for the year 2010. The company's financial stability and quality standards are further strengthened by QMS and Excellent financial ratings received by world class rating agencies, S&P and AM Best. Rated A Excellent by A.M. Best and supported by leading Reinsurers like Swiss Re, Munich Re, Lloyds, Scor, Generali etc, OIC underwrites all types of risks in General, Life & Health insurance and goes that extra mile to tailor make special covers.

Winner of several coveted awards and certifications, like the Mohammed Bin Rashid Al Maktoum Business Award - Finance Category (2007) and the latest being the prestigious AON-Hewitt Employer of the year award (2010).

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