The Arab International Women’s Forum (AIWF), the leading London-based non-governmental global development organization dedicated to empowering women leaders through education, entrepreneurship and employability, and Arabia Insurance, the MENA’s oldest and most prominent insurance company, announced a new strategic partnership to address the leadership gender gap in the insurance sector and champion the role of women in this thriving and critical sector, both in the MENA region and globally. The partnership was formalised during a signing ceremony held on Thursday 20 February in the Dubai offices of Arabia Insurance attended by Haifa Al Kaylani OBE, President & Founder of AIWF, and Elie Khoury, CEO of Arabia Insurance.
Despite women comprising a significant portion of the insurance workforce, their representation in leadership roles remains disproportionately low. Globally, women constitute approximately 60% of the insurance workforce; however, less than 7% of CEO positions in the sector are held by women. Women make up 66% of entry-level positions in the insurance industry, less than 7% of CEOs and only 16% of Chief Financial Officers in the insurance sector. The gender pay gap remains wide, with women making 77 cents on average for every dollar earned by their male counterparts.
Haifa Al Kaylani OBE, President & Founder of AIWF, said: “We clearly see that the disparities in the insurance sector in the MENA region are holding women back in this important sector. In the MENA region, despite a growing number of Arab women ascending to top positions in recent years, female leadership in the insurance sector remains notably scarce compared to industries such as banking, education, and healthcare. In our view, this is due to structural and cultural barriers within the industry that currently limit opportunities for flexible work arrangements for women (especially after returning from maternity leave); leadership development and continuous professional development; and slow industry adoption of technology and AI.”
Mrs Al Kaylani continued: “We are immensely proud to partner with Arabia Insurance Company and to be working together in the years ahead to attract more women to the predominantly male-led insurance industry which we believe will, in turn, boost innovation, sustainability and performance within the sector and in turn the MENA economy overall.”
Elie Khoury, Chief Executive Officer of Arabia Insurance Company, said: “We are deeply honored to partner with AIWF to pave the way for a more inclusive and equitable insurance industry. By empowering women and addressing the barriers they face, we can drive meaningful change and contribute to the growth and sustainability of our sector and the broader economy.”
The partnership between AIWF and Arabia Insurance will see both organisations collaborate in the years ahead to bridge the gender gap in insurance leadership through a series of targeted, inclusive and interactive initiatives. These range from a focused leadership development initiative to help women in insurance prepare for executive roles; joint events and workshops designed to facilitate knowledge exchange, skills development and the creation of a robust professional network among women in the MENA-international insurance industry; and a co-hosted panel discussion later in 2025 to a) identify barriers to women’s advancement in the insurance sector and b) advocate for policies that promote women’s inclusion in this traditionally male-dominated sector.
