14.6.10
M.K. Itzhak Cohen, Deputy Minister of Finance
Prof. Oded Sarig, Commissioner of the Capital Markets and Insurance at the Finance Ministry of Israel.
Mr. Graham White, Deputy Chairman of Lloyd's & Managing Director of Argenta Private Capital Limited
Mr. Yonel Cohen, Chairman of the Association of Life Insurance Companies of Israel Ltd.
Mr. Zeev Even Chen, Managing Director of Israel Insurance Companies Association & the Association of the Life Insurance Companies of Israel Ltd.
Distinguished guests from all over the world; all my colleagues from the Israeli Insurance market,
Thank you for coming to the 4th Tel Aviv Reinsurance conference in Tel Aviv. For some of you it is already the fourth time, for others it is their first time attending to the reinsurance conference and for some of you it might be the first time visiting Israel.
I am glad to say that this year again we have a very nice increased number of participants from all over the world.
The number of reinsurers, international brokers is increasing considerably from year to year and I believe that we can say with much confidence that the Tel Aviv Reinsurance conference is becoming a very well known conference within the worldwide insurance market. As some of the reinsurers told me, they have marked the month of June of each year as being reserved for the Tel Aviv Re conference.
We are very proud that the Israeli insurance market is growing from year to year and that the Israeli insurance market has not suffered from the worldwide economic turbulence.
The turnover of the Israeli insurance market including non-life, life insurance and health insurance, has reached in 2009 almost US$ 11 billion. Taking in consideration that the total population in Israel in 2009 has been 7 million people, means that we are reaching $1,500 per capita, which is certainly one of the highest premium per capita in the world.
The Israeli Insurance Association is dealing with a lot of issues during the year and I do not think it is the right place and time to tell you in details about all the activities of the Israel Insurance Association. As you know, the insurance market in Israel is very regulated and on top of our routine work we have also to spend a lot of time dealing with the regulator.
We would like you to enjoy this evening and again I would like to thank you all for coming to Israel, especially during these days where the world media is not very friendly to us and therefore it is much appreciated that so many of you came and some of you will also enjoy traveling in our wonderful country.
The Israeli Philharmonic Orchestra is having a special concert with Maestro Zubin Mehta on 5.7.10 at the border fence with Gaza. This concert will be calling for the world to help and release Gilad Shalit who is already for 4 years in complete isolation and not allowing even to the Red Cross or to any humanitarian organization to visit Gilad Shalit.
The Israeli Philharmonic Orchestra has asked me to invite all of you to come to the concert.
I am calling especially upon the Israeli insurance companies for each one to arrange a bus which will be traveling to the Gaza border to attend the concert.
Harel group has already agreed to attend the concert with at least one bus of Harel's employees.
I trust and hope that there will be many more buses from the Israeli insurance industry to take part in this very important concert which the admission to it is free of charge.
I would like also to say special words of thanks to the general manager of the Israeli Insurance Association, Mr. Zeev Even Chen, to Hedva Vanunu, who is already planning the Tel Aviv Reinsurance conference for 2011, and to all the devoted team of the Israeli Insurance Association.
And at last but not least, I would like to thank very much my dear wife Hana who has helped us so much with organizing this special evening.
Thank you and good evening.
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