{"id":67338,"date":"2023-03-18T04:38:13","date_gmt":"2023-03-18T01:38:13","guid":{"rendered":"https:\/\/indexeconomic.com\/?p=67338"},"modified":"2023-03-18T04:38:14","modified_gmt":"2023-03-18T01:38:14","slug":"bupa-arabia-ceo-tal-nazer-participates-in-the-financial-sector-conference-2023-in-riyadh","status":"publish","type":"post","link":"https:\/\/indexeconomic.com\/?p=67338","title":{"rendered":"<strong>Bupa Arabia CEO Tal Nazer participates in the Financial Sector Conference 2023 in Riyadh<\/strong>"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Tal Nazer, CEO of <a href=\"https:\/\/www.bupa.com.sa\">Bupa Arabia<\/a> for Cooperative Insurance, joined a key panel discussion in the second edition of the Financial Sector Conference (FSC) 2023, which was held on March 15-16 in Riyadh.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">The event, spotlighting global economic trends and next-generation digitization, is an important platform for dialogue, drawing financial sector leaders from the region and beyond.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">The conference hosted experts in several sessions with themes such as: \u201cGlobal Economic Challenges and Opportunities,&#8221; \u201cCapital Institutions in the New Financial Status,\u201d \u201cSafe Investment for Tomorrow,&#8221; and \u201cFuture of the Financial Sector in Light of Digitization.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Nazer participated in a discussion titled \u201cFrom Risk Avoidance to New Opportunities in Insurance,\u201d on Wednesday. He was joined by Michel Grosso, CEO of Democrance Insurance Company, and Jerome Drouche, CEO of the Health Department, Cigna Healthcare, while Dr. Sven-Olaf Vathje, Partner, Oliver Wyman &#8211; Dubai, moderated the session.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Meanwhile, Bupa Arabia joined the Financial Sector Conference buoyed by a 38% rise in annual net income. The profit growth, which rose to SR 862.6 million (from SR<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">625.6 million in 2021), was stimulated by net underwriting results and other activities\u2019 gross income, which grew by 10.8% year-on-year (YoY) to SR 132.61 million.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">The insurer reported a surge of 93.2% YoY, or SR 277.82 million, in investment and other income.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Commenting on the significance of the conference, Nazer said: \u201cIt comes within the framework of Saudi Arabia&#8217;s endeavor to contribute to the revival and revitalization of the many economic sectors, especially the financial sector.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">He pointed out that FSC 2023 aimed to support the national economy by developing financial sector institutions, making advancements in the capital market, and empowering financial planning among various segments of society.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Nazer said the world is \u201cwitnessing an economic slowdown that has exceeded expectations, due to rising inflation, high-interest rates, and supply chain shortages.\u201d<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">He said that the competitive economic landscape, driven by rapid technological development and the current economic reality, makes it imperative for financial institutions, especially insurance companies, to reconsider their roles in the Saudi market and ways to serve their customers.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">As the Saudi insurance sector undergoes rapid digital transformation, Bupa Arabia prides itself in being a digitization pioneer as it was the first company in the insurance sector to establish an exclusive department for digital transformation in 2018. The company leverages advanced technologies to provide state-of-the-art digital services, such as a telehealth platform and other exclusive programs, benefiting 3 million users.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Nazer said he was happy to join the session at FSC 2023, which he said is a key platform to support innovation and build partnerships in the financial sector and projects that drive sustainable economic growth, raising the quality of life under Saudi Vision 2030.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Held at the King Abdulaziz International Conference Center, the two-day deliberations are being organized by the Financial Sector Development Program (FSDP) partners, including the Ministry of Finance, Capital Market Authority, and Saudi Central Bank.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Top hosts at the summit included Minister of Finance Mohammed Al-Jadaan, Chairman of the Board of the Capital Market Authority Mohammed Al-Kuwaiz, Governor of the Saudi Central Bank Ayman Al-Sayari, Minister of Investment Khalid Al-Falih, and Minister of Economy and Planning Faisal Al-Ibrahim.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">Global participants from outside Saudi Arabia included ministers from Egypt and South Africa, and top executives from JP Morgan, Morgan Stanley, World Bank for MENA, and Organization for Economic Cooperation and Development.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tal Nazer, CEO of Bupa Arabia for Cooperative Insurance, joined a key panel discussion in the second edition of the Financial Sector Conference (FSC) 2023, which was held on March 15-16 in Riyadh. The event, spotlighting global economic trends and next-generation digitization, is an important platform for dialogue, drawing financial sector leaders from the region &hellip;<\/p>\n","protected":false},"author":2,"featured_media":67339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[439],"tags":[],"class_list":["post-67338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bupa Arabia CEO Tal Nazer participates in the Financial Sector Conference 2023 in Riyadh - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/indexeconomic.com\/?p=67338\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bupa Arabia CEO Tal Nazer participates in the Financial Sector Conference 2023 in Riyadh - \u0635\u062d\u064a\u0641\u0629 \u0627\u0644\u0645\u0624\u0634\u0631 \u0627\u0644\u0625\u0642\u062a\u0635\u0627\u062f\u064a\" \/>\n<meta property=\"og:description\" content=\"Tal Nazer, CEO of Bupa Arabia for Cooperative Insurance, joined a key panel discussion in the second edition of the Financial Sector Conference (FSC) 2023, which was held on March 15-16 in Riyadh. 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