In 2010, AAC was founded and managed since then by Ala Karrain who is a qualified actuary registered with the Insurance Commission in Jordan since 2007, licensed in Palestine by Palestine Capital Market Authority and is licensed in United Arab Emirates by the Insurance Authority.

Ala has lead AAC to become one of the leading actuarial consultancies in the Middle East, operating in Jordan, Saudi, UAE, Palestine, Iraq and Egypt. Currently, AAC acts as the appointed actuary for over 15 insurance companies in the Middle East with various engagements from opining technical reserves to pricing motor and medical insurance portfolios. The Company has been awarded several high profile projects regarding industry relevant matters by Regulators and Insurance Federations. On the matter of long term defined obligation employees’ benefits, AAC acquired extensive expertise in International Accounting Standard 19 – IAS 19 – and its equivalent public-sector version IPSAS 39. The gross end of service provision that AAC values for its clients annually has surpassed USD 1.75 billion, for local, regional, international companies and United Nation’s Agencies.

Ala has a Masters in Actuarial Sciences with distinction from Heriot-Watt University in Edinburgh, UK. He also holds a bachelor degree in Accounting from the University of Jordan where he was ranked one of the top five students graduating in 1999. Ala is an Associate of the Society of Actuaries, Illinois, USA. In addition, he is a Fellow of the Conference of Consulting Actuaries in USA. He is also a member of Institute of Actuaries in London and holds the diploma in actuarial techniques and the certificate in finance and investment.

In 2001 Ala joined the Regional Actuarial Department of American Life Insurance Company (ALICO) in Dubai where he was involved in various actuarial areas of expertise. The Regional Actuarial Department was looking after the actuarial needs of all ALICO’s operations in the Middle East, North Africa and South Asia. Karrain joined DIFC Investments in 2007 as Executive Director Corporate Finance. His responsibilities included assessment of investment opportunities, building financial models used for valuations and the execution of mergers and acquisitions. Deals included the assessment of private placement in insurance companies and the feasibility studies of establishing reinsurance companies. In addition, he conducted annual reviews for employment benefits of the Group. During his employment with DIFC Investments, Ala served as a Board Member on several companies where he was representing DIFC Investments.