Aart Lehmkuhl

EIC is the 4th largest and 2nd oldest insurance company in the UAE, listed on ADX and provides a wide range of insurance products to the local as well as international market. Premium income will reach USD 335m by the end of 2022.

Responsibilities:

• Priority responsibility is ensuring wellbeing of financial position of company.
• Managing investment portfolio of USD440 million.
• Relationship manager responsible for maintaining our corporate rating of “A-” from AM Best and S&P Global.
• Corporate Governance subject matter expert in company.
• Right hand man to CEO.
• Evaluated and presented various Merger Opportunities to Board of Director.
• Chairman of Risk committee.
• Liaising officer between Company and various regulators.
• Advisor to Board of Directors and Member of Investment, Human resources, reinsurance and executive committee
• Board and Company Secretary

Achievements

• Ensure company achieves ROI in excess of 10%.
• Constant growth of Solvency margin despite paying record dividends.
• Project leader on IFRS17 implementation.
• Secured an “A-” rating from AM Best in 2011 and S&P Global,
• Successfully restructured finance department to provide enhanced management information to all stakeholders.
• Implemented 7 new Central Bank Insurance Regulations.
• Developed and implemented investment policy reducing volatility but without significant impact on investment returns.
• Developed and presented detailed analysis of investment performance, portfolio attributes and benchmark composition to evaluate investment strategies.
• Designed and implemented risk management program.
• Researched, designed and implemented comprehensive Corporate Governance Policy for company in accordance with Central Bank requirements.
• Implemented industry leading AML program.
• Implemented Business Continuity Program.
• Worked closely with Human resources manager to consolidate and implement revised remuneration policies for company.

Rand Mutual Assurance Group is a large insurance company with assets in excess of USD1.8 billion. The group comprises of a Life Insurance Company as well as a short term insurance company.

Responsibilities:

• Board Director for Life and Short term Insurance company
• Served on Audit and Investment committee
• Chief Financial Officer
• De facto Chief Investment Officer

Day to day management of private 30 bed hospital with 13 clinics.

Healthcare Insurance Company in diversified group.

My main responsibility was to ensure that 15 000 medical insurance claims received daily for more than 500 000 beneficiaries were paid on time, all the time. More than 500 staff members reported to me directly or indirectly and we managed investments in excess of $50 million.

• Chief Operating Officer: July 1998 – July 1999
• Group Technical Director: November 1997 – June 1998
• Fund Financial and Technical Director: April 1996 – October 1997
• Group Financial Director: April 1994 – March 1996
• Financial Systems Manager: January 1993 – April 1994

Appointed as project accountant for the development of Glass Bottle factory. On completion of the project, I was promoted to financial manager.

Employed as management accountant to convert typed monthly management accounts into Lotus 123.

Produced monthly management accounts for senior management.

Trainee auditor and accountant.