The ninth annual Middle East Insurance Forum (MEIF), which saw more than 500 leading global players and industry thought leaders converge in Bahrain to discuss key finance and insurance-related issues, was declared a major success.

As the curtain came down on the ninth Middle East Insurance Forum in Bahrain yesterday, the organiser David McLean is already looking forward to next year's event, reported the Gulf daily News, our sister publication.

"More than 500 international delegates representing over 150 leading organisations took part in the sessions on the first day, which was a record for us," said McLean.

"Yesterday we still had more than 250 delegates here which testifies to the strength of Bahrain as a regional centre for the insurance industry.

"It has been a highly successful event attracting leading industry players from across the world including participants from Lloyd's, the world's largest insurance market, for the first time."

"We are already signing people up for next year which will be an important one for us as it will not only be the 10th anniversary of this event but will also see us bring the World Islamic Banking Conference here for its 20th anniversary.

"That is a reflection of Bahrain's role as the leading Islamic finance, banking and insurance hub in the region."

Solidarity group chief executive Ashraf Bseisu said the conference had been highly important at a time when the industry was looking to further growth across the region.

"Statistics from the Central Bank of Bahrain show that there has been reasonably premium growth in the industry over the past year and profitability, I believe, has at least been sustained," he said.

"I am cautiously optimistic about further growth in 2013 as there is more government expenditure on capital projects," stated Bseisu.

"That is a positive sign for the industry as a whole," he added.-TradeArabia News Service