PROMOTING STABILITY AND PROSPERITY IN THE DEVELOPING WORLD
Asia: AIRDC calls for greater learning among members
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Source: Asia Insurance Review | Nov 2015
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The 19th Association of Insurers and Reinsurers of Developing Countries (AIRDC) Conference in Seychelles with 200 delegates from 31 countries, with the theme “Long-term Development in Partnership with the Insurance Industry” saw greater calls for co-operation among the developing countries from Asia, Africa and Latin America.
The next AIRDC annual conference will be in Bahrain from 26-29 September 2016 and will be jointly organised by ARIG, Central Bank of Bahrain, Bahrain Insurance Association and AIRDC.
Hon. Barry Faure, Vice-President of the Seychelles, in his opening speech stressed the importance of the co-operation among insurers and reinsurers of developing countries. He stressed the need for and possibility of members learning from each other to develop their respective markets.
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Mr Pierre Laporte, CEO of SACOS Group (a former state- owned insurance company, now privatised and listed in the Seychelles Stock Exchange) is the new President of the AIRDC, with Mr Yassir Albaharna of Bahrain as the Vice-President. Ms Ming Jacinto, President of the Insurance Institute of Asia Pacific was confirmed as the Secretary General. She was standing in following the sudden death of past Secretary-General Mrs Evangeline Escobillo.
AIRDC started life in 1977 as Third World Insurance Congress in Manila where its secretariat is still based. For a while between 1995 and 2000, it was the called the Association of Insurers and Regulators of Developing Countries. It then became ICDC, Insurance Co-operation among Developing Countries and finally reverted to AIRDC where the R stood for reinsurers. Since 2013, after a lapse of four years, it has started holding its conferences annually, in Sri Lanka, Zimbabwe and Seychelles.
