Officially... Hesham Ramadan appointed Managing Director of Suez Canal Life Insurance Company – Source: Amwal Al Ghad Newspaper – December 24, 2022
By: Islam Abdel Hamid
“Amwal Al Ghad” has learned from informed sources that the Financial Regulatory Authority has approved the appointment of Dr. Hesham Ramadan as Managing Director of Suez Canal Life Insurance Company, succeeding Dr. Said Gaber, who resigned effective early August.
It is worth noting that Ramadan has extensive and diverse experience in the insurance sector, particularly in life insurance. Before assuming his most recent position as Assistant Chairman of the Financial Regulatory Authority and Executive Director of the Non-Banking Financial Services Institute, he served as Deputy Chairman of Misr Life Insurance Company in 2010 for four years, during which he achieved numerous accomplishments. These included completing the restructuring process of Misr Life Insurance, designing new products, and establishing a modern production unit that has become one of the company’s key pillars in the field of individual policy production.
Ramadan also established the bancassurance activity at the company for the first time at that time, by implementing bancassurance with the Housing and Development Bank. Over four years, he increased the company’s profitability from EGP 17 million to EGP 375 million by the end of 2014.
Hesham Ramadan is considered one of the leading professionals with long-standing experience in insurance and investment, both from executive and regulatory/legislative perspectives, with over 27 years of practice. During his career, he has held several executive positions, beginning as an insurance expert at the Ministry of Investment, where he contributed to developing several files including compulsory car insurance, and later was responsible for restructuring state-owned insurance companies within the Insurance Holding Company at the time.
Ramadan obtained a Master’s degree and a Diploma in Actuarial Science from City University, London in 2000, and became a Certified Board Member from Risk Matrices in 2007.
He began his professional career at the Egyptian Insurance Supervisory Authority as an actuarial researcher, and later rose through the ranks until his appointment as Advisor to the Chairman of the Financial Regulatory Authority in October 2017, then as Assistant Chairman of the Authority in January 2021. During this period, he contributed to developing the Unified Insurance Law and several supervisory regulations, launched the initiative to create the first Egyptian actuarial life table, and chaired the first committee for its implementation, which was presented to life insurance companies last August. He also participated in several working committees at the Ministry of Investment and the Financial Regulatory Authority, and served on the boards of directors of several companies operating in the fields of finance and investment.