Muscat: Al Ahlia announced the appointment of Praveen Kumar as the CEO of Al Ahlia Insurance Co. Oman. Praveen has been serving the company in the capacity of Chief Financial Officer (CFO) for Al Ahlia Oman & RSA Middle East since 2016, and earlier as CFO of Al Ahlia Oman since 2007.
Announcing the appointment, in a statement, the Board of Directors of Al Ahlia Insurance Co. Oman, said, “We are pleased to confirm the appointment of Praveen Kumar as the new CEO of the company. Praveen has played an instrumental role in the successful journey of Al Ahlia Insurance Co. managing the financial performance of the organisation, whilst helping Al Ahlia grow stronger through its long history in Oman. Over the years, Praveen has played a strategic role working alongside the Board, management team, and authorities and has earned the trust and support of employees, clients, and customers alike. We are confident that he will excel in his new role, and take Al Ahlia to greater heights.”
A certified Chartered Accountant from the Institute of Chartered Accountants of India, Praveen has several professional qualifications to his credit, earned from premier institutions and professional bodies in the UK and USA specialising in Management Accountancy, Public Accountancy, Risk Management and Derivatives. Since 2007, Praveen has contributed to the effective financial and business performance of Al Ahlia with a track record of delivering consistent underwriting profits, maintaining a high-quality investment book generating stable and visible returns and also overseeing the successful IPO of the company in 2017.
Over the years, Al Ahlia gained a reputation for delivering superior value to its customers and shareholders whilst maintaining a keen eye on innovation, service and building differentiation. Al Ahlia enjoys strong brand equity through its customer-centric proposition of ‘One Step Ahead’, which has been serving as an inspirational platform for its performance. Earlier this year, Al Ahlia won the Oman Insurer of the Year award at coveted MENA Insurance Awards 2019 for the 6th time with earlier wins dotted across 2011 to 2018.
Elaborating on his new role, Praveen said, “I thank all stakeholders and I look forward to working closely with the regulators for the development of the industry as a whole. Over the years, Al Ahlia has made significant efforts to build steadfast relationships both in commercial and retail lines, a diverse portfolio of products and seamless service channels. It’s a combination of all of these factors and our inspired approach that continues to support our ambition for growth. With a focus on building a customer-centric proposition in everything we do, we are strategically poised to grow stronger and expand in newer areas that the industry will evolve into.”
“We are committed to training and development of young Omani talent for future leadership and management roles at Al Ahlia and within the RSA Group. We will continue to enhance our in-country value contribution supporting SMEs and other community initiatives and programmes,” Praveen added.