The company said the hiring of Ian Walton formed part of its plans to drive growth in the general insurance side of the business. His arrival follows the appointment last year of an overall director of general insurance, Rumi Sanjana.
According to Nexus, general insurance sales increased by 42% in 2010, growth the company said at least expected to maintain in 2011.
Walton had been “business development adviser” for Oman Insurance Company prior to joining Nexus. He said among the measures planned to continue sales growth was a general insurance training course for sales staff.
According to Nexus – quoting the Arab Insurance Market Review – general insurance uptake in the Gulf region is low compared to global averages, at around 1% versus 7%.
Walton said: “Lack of awareness of general insurance products is still a major barrier in the region, even simple policies, such as cover for household contents, are very low on people’s agenda. This is something myself and the team will be working towards changing.”
