10 Nov, 2022

On November 10, 2022 Fenchurch Faris held a seminar in Oman titled, “Energy & Construction:  An introduction to Upstream and Downstream Insurance”.  The seminar was conducted in cooperation with the Oman Insurance Association (OIA).

The event, which was a great success,  included the participation of 3 elected representatives from each insurance company in Oman and was held at the Crowne Plaza Al Qurum in the country’s capital, Muscat.  Fenchurch Faris was represented by Mr. Karim Lozi, Head of Business Development and Mr. Michel Nassar, Head of Energy & Engineering, who introduced the company and discussed Energy Upstream and Downstream, Control of Well and CAR insurance.

Mr. Lozi began with a welcome speech and introduced Fenchurch Faris and its 39-year history as a regional leader and pioneer in providing insurance and reinsurance solutions for the Mena region.  This included the various specialty products available to their clients and the large portfolio of reinsurance facility agreements with reinsurers across various lines.

Mr. Nassar then gave an introduction of the construction market in general and shared various experiences which resonated with him in his 10 years of experience in the CAR industry. He also covered  upstream and downstream energy insurance in depth, including case studies, energy catastrophe videos and risk mitigation techniques.  

The purpose of the seminar was to share knowledge with the Omani insurance market and to raise awareness about topics that are relevant to the country which is situated in a harsh NAT CAT area.  The audience was engaged and were given the opportunity to ask questions and to discuss their point of views in addition to sharing some of their own experiences.

Finally, the CEO of Arabia Falcon Insurance Company, Mr. Roland Zaatar, presented an emblem to the speakers on behalf of the Oman Insurance Association as a gift for their contribution.  Fenchurch Faris extends its genuine gratitude to the OIA for supporting this initiative and more specifically, Sayyid Nassir bin Salim Al Busaidi CME at United Insurance Co.