Afro-Asian insurers chart economic development


Over 400 insurance chieftains will put heads together during the forthcoming 22nd Federation of Afro-Asian Insurers & Reinsurers, FAIR on how best the insurance sector in Afro-Asian countries can play a pivotal role in their economic development.

The theme of the conference holding between October 2 and 6, 2011 in Cairo, Egypt, is: ‘The Role of Afro-Asian Insurance as a Catalyst for Development and National Economic Prosperity’

The Chairman of the Organizing Committee of the conference, Mr. Abdel Raouf Kotb, in an email response to Sweetcrude, noted that the FAIR had always brought together hundreds of insurance operators and decision-makers within and outside the industry from Africa and Asia.

Raouf Kotb said, “the FAIR presents a good opportunity for insurance chief executives to meet their business partners and also provides the platform for them to engage in high-profile discussions on industry issues, whilst they debate important and controversial issues facing the sector.”

Other Key topics at the 2011 conference include: Securing Economy development through innovative risk management for catastrophic risks; Political Violence in the Middle East, implications for insurance coverage and potential future developments just as the challenges of Micro-insurance and Micro-Takaful also top conference topics.

FAIR was established in September 1964, to promote cooperation among insurance and reinsurance companies in Africa and Asia, through the regular exchange of information, expertise and the development of business relations.

FAIR is composed of Ordinary Members and Associate Members as follows:

Ordinary Membership is opened to any Afro-Asian national insurance or Reinsurance Company and/or holding organization. In all cases, an ordinary member shall have:

A) at least 51 percent of Afro-Asian ownership; andB) the Head-Office situated in Africa or Asia.

Associate membership is opened to (a) any other Afro-Asian national insurance or reinsurance company whose Head-Office is situated in Africa or Asia and (b) any African or Asian national insurance association or institution.

Being a professional business association, FAIR is dedicated to the cause of regional cooperation and the development of the Insurance Industry in Afro-Asian Countries.

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