The Million Dollar Round Table (MDRT) – the premier association of financial professionals – is set to arrive in Dubai later this month, as the regional financial sector continues to develop in scale and sophistication.
Founded in 1927, MDRT provides its members with resources to improve their technical knowledge, sales and client services while maintaining a culture of high ethical standards.
Originally a networking body for successful salespeople who completed business transactions worth more than USD 1 million in a year, the group has evolved into a major professional association, with events held in cities worldwide.
The Dubai meeting, which is being supported by Zurich International Life (Zurich) and Nexus, the region’s leading financial advisor, is expected to attract more than 500 financial professionals, including delegates from Kuwait, Bahrain Saudi Arabia, Lebanon, Qatar and North Africa.
Speakers will include the president of the MDRT, Phil Harriman, as well as noted financial experts and motivational speakers Tony Gordon, Marc Silverman, and Anthony Morris.
MDRT’s president, Phil Harriman, comments: “Given the major expansion of the Middle East’s personal and corporate financial sectors – and Dubai’s role in driving these developments – it seems a natural step to bring the MDRT here.
“Not only is the region seeing an increasing number of financial service professionals working at the highest levels, but there is also rising demand for enhanced standards of client service and locally-based product knowledge, which MDRT can help to stimulate.”
As leaders in the insurance sector, Nexus and Zurich believe that the MDRT is visiting Dubai at the right time for their industry.
Data compiled by Nexus predicts total insurance market value in the GCC region will grow by USD 2 billion by 2010. Currently, the industry is worth an estimated USD 5.1 billion, with growth expected to reach USD 7.1 billion in four years' time.
In terms of the UAE, the new research shows total insurance market value growing from an estimated USD 2 billion in 2006 to USD 2.9 billion by 2010. Large scale expansion in life insurance value is also revealed - from an estimated USD 386 million in 2006 to USD 676 million by 2010.
Mahmoud Nodjoumi, chief executive officer of Nexus, comments: “We’re seeing strong ongoing growth and rising expectations on the part of clients, who are looking for partners who can help them manage their financial security.
“The MDRT has a valuable role to play in the region, providing important training opportunities, and also inspiring financial professionals to raise their standards of service and their overall sales.”
Martin Davis, chief executive officer of Zurich International Life, said: “The MDRT is one of the most established and highly-regarded events in the global financial services calendar. The prospect of some of the most respected people in the industry coming together in the dynamic financial hub of Dubai is a very exciting one, and it is natural that we should be at the heart of it.”
The MDRT meeting will take place on 24th February 2007 at the Crowne Plaza, Dubai. Registration is required.
