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;
and 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.
AIRDC elects Shah as new president
After a successful hosting of its biennial conference, the Association of Insurers and Reinsurers in Developing Countries (AIRDC) has elected a new president.
Mr. Vihaya Bahadur Shah, Chief Executive Officer of Nepal Insurance Company has been named unanimously as the new AIRDC President, taking the place of outgoing president Mr. Yassir Albaharna from Bahrain.
Mr. Shah vowed to make the AIRDC a force to reckon with by insurance executives in the developing world.
21st AIRDC Conference in Nepal a big success
The 21st AIRDC (Association of insurers and reinsurers of developing countries) conference was held in Kathmandu, Nepal on 25th and 26th September 2018 hosted by Beema Samiti (Insurance Board).
The event was formally inaugurated by the Honoraable Finance Minister Dr Yuba Raj Khatiwada. In his opening remarks, Dr Khatiwada provided the impetus to the insurance industry of Nepal to work on the development of Insurance to keep pace with the other developmental aspects of the country's economic policy.
The theme of the conference was “Building Financial Resilience – Disaster Risk Financing and Insurance." Various critical issues related to “Disaster risk financing and insurance” were addressed by various presentations and panel discussions among experienced and distinguished professionals and experts.
The conference was aimed towards finding cutting-edge strategies in the insurance business and highlighting the areas where brokers can rise to reinforce their role in the value chain of insurance as valued partners to both insurers and risk managers and corporate clients in the dynamic risk landscape.
The AIRDC conference was supported by two organizations, namely the AIRDC and AISADC (Association of Insurance Supervisory Authorities of Developing Countries).
The guiding principle of AIRDC is to develop and expand international collaboration and cooperation in the fields of insurance and reinsurance of every type. It also has an objective to strengthen the insurance market in developing countries and to foster inter-regional cooperation within the insurance industry.
On the other hand, the AISADC aims to take all measures as it may deem necessary or desirable to assist, develop faster, promote and strengthen mutual understanding and cooperation among its members in the discharge of their official duties, and to extend assistance to any developing country upon its request, in the establishment or strengthening of insurance supervision on such country.
AIRDC Board meets in Manila
The Board of Directors of the Association of Insurers and Reinsurers in Developing Countries (AIRDC) met recently at the Makati ShangriLa Hotel in the Philippines tod discuss the upcoming plans of the organization.
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.