Oman Investment Fund (OIF) a sovereign wealth fund of the Sultanate of Oman, has today announced the appointment of, among other new members, two insurance industry experts to the board of Oman National Investment Corporation Holding SAOG (‘ONIC Holding’ Ticker: ONIC). OIF acquired a 41.13% holding, in ONIC Holding in February 2013.
Andrea Moneta and Lakhdar Moussi join the ONIC Holding Board following their election at ONIC Holding’s AGM held on 30th March in Muscat. Moneta and Moussi bring decades of international insurance sector experience and expertise to ONIC having worked for and advised some of the most prominent names in the industry.
Andrea Moneta is currently senior adviser to Accenture FS as well as several private equity firms operating in financial Services. From 2008 until 2012 he was an executive director and CEO of Aviva plc based in London and prior to this he held senior positions at Dubai Financial Group (as MD and CFO) and at UniCredit Group where he held several posts including Group CFO and Head of Private Banking and Asset Management. From 1999-2000 Moneta worked at the European Central Bank as head of planning. Moneta has been elected to the position of non-executive Director on the Board.
Lakhdar Moussi is Managing Partner of LM Consult, a management consultancy engaged in several major initiatives in the Kingdom of Bahrain. From 2005 until 2012, Mr Moussi was Senior Vice President at Kuwait’s KIPCO Holdings and acted as senior adviser to KIPCO’s Bahrain based United Gulf Bank. Previous roles held by Moussi include CFO and Chief Administration Officer of Arab Insurance Group where he spent over fourteen years. His international experience spans Canada where he acted for KPMG, South Korea, France and Algeria. Mr Moussi has been elected to the position of non-executive Director of the Board.
ONIC is listed on the Muscat Securities Market, is a leading diversified financial services holding company in the Sultanate of Oman and an established player in the field of Life and General Insurance,
“I am delighted to confirm these elections to the board of ONIC Holding. Andrea Moneta and Lakhdar Moussi bring years of experience and expertise to ONIC Holding having worked around the globe at some of the world’s most renowned insurance and financial services companies. ONIC will benefit greatly from their insight and guidance and I have every confidence that they will contribute to developing ONIC as a critical enterprise for the good of OMAN,” Hassan Al-Nabhani, Chief Executive Officer of Oman Investment Fund, said.