The Eighth Annual Middle East Insurance Forum (MEIF 2012), which will be held on February 7 and 8 at the Gulf Hotel, is seeking votes to select the winner of the MEIF Institutional Excellence Award 2012.

The annual award, which is among the oldest and most prestigious in the regional insurance industry, is designed to recognise institutions that have made significant contributions to the Middle East insurance industry and demonstrated outstanding achievements and institutional excellence in major performance areas.

The award uses a unique voting system to identify the winner from a shortlist of nominees that have met the key performance criteria.

The nominees for the MEIF 2012 Institutional Excellence Award are Legal and General, Bahrain Kuwait Insurance Company, Bahrain National Insurance and Life Insurance Corporation (International).

'The MEIF Institutional Excellence Award recognises achievements, innovations and excellence in the Middle East insurance industry and encourages industry players to further strengthen their business models, adopt best practices and innovate next generation products that will propel the industry to the next phase of development,' said forum chief executive David McLean.

The voting lines for the MEIF 2012 Institutional Excellence Award will remain open until Thursday and the winning institution will be recognised at the high-profile gala dinner ceremony of the forum, which will be held on February 7.

'Insurance markets in the Middle East continue to experience a period of significant growth as leading industry players implement retooled strategies to tap into the enormous growth potential that the region offers,' said Central Bank of Bahrain executive director financial institutions supervision Abdul Mohammed Al Baker.

'With the growth momentum that the industry has enjoyed over the last few years, it is important to ensure an orderly evolution in the industry further supporting growth and innovation.

'Industry players and regulators must work together to further strengthen the industry's capabilities. Awards like the MEIF Institutional Excellence Award recognise and appreciate the commitment and dedication by the leading industry players in further developing the regional insurance industry,' he added.-TradeArabia News Service