New Omanization Drive in the Insurance Sector

CMA  Organize Senior Leadership Programme in Collaboration with Queens University

Al Mamari: Enabling national cadres is the object of the Programme:

The Directorate General of Insurance Supervision of the  Capital Market Authority  organized a training programme on  senior leadership in collaboration with Queens University, Canada attended by 30  Omani employees holding medium and senior positions in insurance companies to enhance Omanization in the sector.

Mr. Ahmed Ali Al Mamari, Director General of Insurance Supervision said the programme  is part of CMA’s plan to supply the Omani insurance sector with qualified national cadres and to attain Omanization policy by enabling national cadres in professional and managerial positions which require  skills rather than  routine operational works. Such policy should be coupled with training programmed to attract the youth.

He added CMA endeavors to Omanize senior positions at 50% of the total  manpower at such managerial level and  to  75% for medium management positions.

Al Mamari said that CMA is continuing preparation of specialized programmes for the youth working in the insurance sector. In the past year  400 employees working for insurance companies, brokers and agents were trained and we are planning further programmed to meet the needs and ambitions of the national cadres so as to contribute to Omanization policy and we hope all insurance companies will cooperate to achieve an added value for the sector in the national economy. He added such attention emanates from the confidence in the national cadres and their ability to promote the sector with intensive training programmes to upgrade their knowledge and skills.

He said the work in the insurance sector  provides privileges and the sector is able to accommodate  great numbers of graduates of colleges and universities in commerce, accounting and marketing in addition to graduates of information technology.. He added CMA objective is to boost the Omanization policy and to promote the role of the private sector in creating jobs.

The training programme in senior leadership conducted by Queens University comprises  key  leadership skills of decision makers and operations of insurance companies.  It included  training on individual thinking and problem solving styles, team work and team performance  through practical modules, transformational leadership, identifying and overcoming barriers to transformational leadership, leadership development, motivating, delegating and  providing feedback, managing a diverse and multigenerational workforce.

Transformational management is a new approach to change and development to transform the institutions from the traditional styles to the new styles of management

CMA is keen to develop this sector  which witnessed in the past seven years a 14.8 annual growth rate and  the insurance premiums are  expected  to exceed RO 450 million at the end of the past year.