PROMOTING STABILITY AND PROSPERITY IN THE DEVELOPING WORLD
Welcome to the Association of Insurers and Reinsurers of Developing Countries
Uniting Insurers and Reinsurers for Progress and Stability
Mission: International cooperation among insurers and reinsurers of developing countries.
About Our Association
The Association of Insurers and Reinsurers of Developing Countries (AIRDC) is an international organization composed of insurance companies, reinsurance companies and other insurance groups that bonded together to develop and expand international collaboration and cooperation in the fields of insurance and reinsurance among them.
The AIRDC is non-political, non-government, non-religious, and non-profit making. Its main objective is to strengthen the insurance market in developing countries and to foster inter-regional cooperation within the insurance industry.
To this end the AIRDC shall:
a) Cooperate in the establishment and promotion of permanent contacts among members.
b) Help in gathering, processing and exchange of statistical data and of all kinds of information and experience relating to the insurance industry.
c) Develop a program of insurance education and research on common problems of the insurance market presented by its members.
d) Implement concrete means of technical cooperation.
e) Encourage the development of reinsurance relations amongst developing countries or areas.
f) Cooperate with public and private entities and with Association and regional organizations devoted to the promotion of insurance industry different areas of the world.
g) Invest portions of the earnings of the properties of the association in shares of stocks, bonds, time deposits, land or other projects;
h) Promote and/or undertake studies and research, publish articles, establish networking and employ all communication system and linkages;
i) Conduct trainings, forums and conferences and to engage in discourse and dialogues; j) Receive contributions, gifts, bequests, legacies, and donations that may be offered to carry out the purposes of the association;
k) In general, exercise any and all lawful powers, whatsoever, in connection with the foregoing or which are calculated, directly or directly, to promote the interest of the association or to enhance the value of its properties, and to perform everything necessary and proper for the attainment of its purpose.
The 22nd AIRDC Conference in Accra, Ghana
The 22nd AIRDC Conference was held in Accra, Ghana on September 25-28, 2022 hosted by the National Insurance Commission of Ghana (NICG) and organized by the Ghana Insurers Association (GIA), Insurance Brokers Association of Ghana (IBAG), Chartered Insurance Institute of Ghana (CIIG), National Association of Ghana Insurance Agents (NAGIA) and Chartered Insurance Ladies Association Ghana.
The theme of the conference was “Building Resilience in The Heat of a Global Economic Tussle" The objective of the international conference aimed at coming out with measures to increase the share of developing economies in the global insurance market.
The special guest of honour, His Excellency Mohammed Ibn Chambas, has urged insurance supervisory authorities and firms on the African Continent to lobby their respective governments to change insurance policies in favor of the African Continental Free Trade Area (AfCFTA) agreement.
According to His Excellency Ibn Chambas, this is to ensure that the insurance industry benefits immensely from the trade pact which has the potential to boost Africa’s shared prosperity by attracting investment, increasing trade, creating better jobs, reducing poverty, and redistributing wealth across the continent.
Expanding Collaboration and Cooperation Among Insurers and Reinsurers
From Third World to Developing
The Association of Insurers and Reinsurers of Developing Countries (AIRDC) was formally established during the 2nd Third World Insurance Congress (TWIC) in Buenos Aires, Argentina on March 20-28, 1980, although an initial draft of the Association’s constitution was submitted during the 1st TWIC held in Manila, Philippines on October 20-25, 1977, by the Philippine Delegation. Its constitution and by-laws were approved in the 4th TWIC held in Casablanca, Morocco on May 12-18, 1984.