The Federation of Afro-Asian Insurers & reinsurers “FAIR” is a priceless instrument and media for cooperation, responsible to make the Federation more responsive, more effective, and dynamic. FAIR was established in September 1964, to promote cooperation among insurance and reinsurance companies in Africa and Asia, through the regular exchange of information, experience, and the development of business relations. The Central Office of the Federation is hosted in Egypt by way of a Presidential Decree.
Under the title ‘Economic Cooperation’, the Afro- Asian Economic Organization (AFRASEC) was established in Cairo, where it held its first and second general meetings in 1958 & 1960. The meetings resulted in enhancing efficacy and attaining better achievements when it came to specific sectors. The Insurance sector was given the utmost priority and was put on the top of the adopted Economic Cooperation Action Program.
Mr. Ahmed Choukri ElHakim, Chairman of the Egyptian General Insurance Organization & Chairman of the Insurance Federation of Egypt at that time, has put forth an initiative during the fourth meeting of (AFRASEC) held in Karachi, in 1963, calling for the founding meeting of the Federation of the Afro-Asian Insurers & Reinsurers “FAIR”, which resulted in the establishment of the Federation”
FAIR aims to become a driving force for international insurance cooperation by promoting collaboration and adoption of international standards.
FAIR will lead the effort to achieve harmonization of insurance markets by promoting, adoption and implementation of international standards among members facilitating the sharing of information and expertise and enhancing cooperation among members
JW Marriott Mumbai Sahar
