Federation of Afro-Asian Insurers & Reinsurers “FAIR”

Federation of Afro-Asian Insurers & Reinsurers “FAIR”

FAIR is a professional business association, dedicated to the encouragement of regional cooperation and the development of the Insurance Industry in the Afro-Asian countries. It has been able, over the years to adapt to changes, to review its priorities, to redefine its strategies, and in the meantime, to continue preserving its identity and principal goals.

FAIR members are now 260, representing 51 Afro-Asian countries; they are working together, confirming commitment and loyalty to the ideals of FAIR.

Historical Background

The leaders of 29 countries from Africa & Asia came together on 18 April 1955 in Bandung, Indonesia and unanimously approved and announced the Bandung Declaration. The declaration was subsequently translated into plans for action. Accordingly, a call was made in collaboration with the Egyptian Insurance Market, represented by Mr. Ahmed Choukry El-Hakeim, the first Chairman of the Egyptian General Insurance Organization to establish the Federation of the Afro-Asian Insurers & Reinsurers “FAIR”. The Founders’ Meeting was held in Cairo in September 1964.

FAIR Organs:

Under its umbrella, the following entities were established to realize the FAIR associations’ objectives:

I. FAIR Pools & Syndicate:

FAIR established the following pools and syndicate to enrich cooperation and to increase underwriting capacity & retention of its members:

FAIR Non-Life Reinsurance Pool

Established in: 1974
Managed By: Milli Re, Turkey, Ms. Aylin Kocatürk, Manager
Contact Details
Telephone: + 90 212 2314730
Email: akocaturk@millire.com
Website: www.millire.com/fair_pool.htm
Address: Milli Reasürans T.A.Ş. - Teşvikiye Cad. No: 35 34367 Şişli, Istanbul - Turkey

FAIR Aviation Pool

Established in: 1989
Managed By: SCR, Morocco, Mrs. Houda Mchiche, Manager
Contact Details
Telephone: + 212 522 460400
Email: hmchiche@scrmaroc.com
Website: www.poolfair.ma
Address: Tour Atlas - Place Zellaqa BP 13.183 - Casablanca, Morocco

FAIR Oil & Energy Insurance Syndicate

Established in: 1998
Managed By: Trust Re, Bahrain. Mr. Nabil Hajjar, M.D
Contact Details
Telephone: + 973 17 571171
Email: nhajjar@trustre.com
Website: www.foeis.com
Address: P.O.Box 10844 Manama,Bahrain, Trust Tower, Building 125, Road 1702, Area 317, Diplomatic Area, Manama, Kingdom of Bahrain

FAIR Nat-Cat Pool

Established in: 2009
Managed By: GIC Re, India, Mr. Y. Ramulu - Manager
Contact Details
Telephone: + 91 22 22867410
Email: yramulu@gicofindia.com
Address: General Insurance Corporation of India "GIC Re" Suraksha, 170, Jamshedji Tata Road, Churchgate, Mumbai - 400020, India
 

II. FAIR Forums:

The FAIR Forums are held annually to create the networking opportunities for members to exchange business ideas.

  • FAIR Reinsurance Forum “FRF”
  • FAIR Oil and Energy Underwriters Forum “FOEUF”
  • FAIR Life Insurance Forum “FLIF”
Participation Fees:
  • FAIR Members: USD 420.00
  • Non FAIR Members: USD 625.00

III. FAIR Brokers & Consultants Society “FBCS”:

FAIR Brokers & Consultants Society (FBCS) has been established, aiming at developing the profession and having a progressive and powerful arm to spur regional cooperation and to encourage business exchange among FAIR Members.

IV. Educational Action Plan

The educational process and elevating the quality of human resources takes a prime priority on the agenda of FAIR. In addition to organizing seminars annually, FAIR encourages research between members’ staff. Cash prizes are provided yearly for writing articles & case studies. FAIR also succeeded in strengthening the relationship between the training entities within the FAIR member countries.

V. FAIR Conferences:

FAIR conferences are held biennial, and have a global attraction as it provides a great opportunity to strengthen business ties between professionals from different countries and markets.