Historical Background

The Great visionary leaders and heads of states of twenty-nine countries from Africa & Asia came together for the first time in the history of the human being, on the 18th to 24th April 1955, in Bandung, Indonesia.

President Sukarno of Indonesia, Premier Zhou Enlai of China, Premier Jawaharlal Nehru of India, and President Gamal Abdel Nasser of Egypt played leading role to unanimously approve and announce Bandung Declaration. The declaration inspired nationalism movements in the two continents, remapped the world politics and set up the foundation for the Afro-Asian cooperation.

The declaration was translated into action plans. Under the title of economic cooperation, the Afro- Asian Economic Organization was established. It held its first and second general meetings in 1958 & 1960 in Cairo. It was then decided to work on sector basis to enhance efficacy and to attain better achievements. Insurance sector took priority and was put on the top of the adopted economic cooperation action programme.

It was decided to establish an Afro-Asian Insurance Council with the initiative of Mr. Ahmed Choukri ElHakim, the Chairman of the Egyptian General Insurance Organization & the Chairman of the Insurance Federation of Egypt. During its fourth meeting held in Karachi, in 1963, Mr. El-Hakiem called for the founding meeting of the Federation of the Afro-Asian Insurers & Reinsurers “FAIR” with the invitation of the Egyptian Government.

Founders Meeting 1964

Countries Present:
Algeria, Burma, Cambodia, China. Egypt, Ethiopia, Ghana, India, Indonesia, Iraq, Jordan, Korea, Kuwait, Lebanon, Libya, Malaysia, Morocco, Nigeria, Pakistan, Tunisia.

The opening session took place at the Town Hall of Cairo, on 3rd September 1964. Representatives of insurance and reinsurance companies, representing 20 Afro-Asian countries participated. The Honorary President of the meeting was Dr. Abdel-Moneim El-Qaissouni, Deputy Prime Minister of Economy & Finance representing President Gamal Abdel-Naser. The speakers in the opening and closing sessions were Dr. Al-Qaissouny, Mr. Gul Mohamed, Mr. Ahmed Choukri ElHakim, Dr. Mohamed Ali Rifaat, Mr. Tsui Ping, Mr. Zahiruddin Ahmed, Mr. Ali El Shafei & Mr. Noureddine El Aneizi.

The meeting resolved to Establish the Federation of Afro-Asian Insurers & Reinsurers “FAIR”, Approved the Statute & Bylaws of FAIR, Adopted the Statute and Byelaws of the Federation, To elect Mr. Ahmed Choukri ElHakim, Chairman of the Egyptian General Insurance Organization, as FAIR President.

Mr. Ahmed Choukri ElHakim, the Founding President of FAIR., stressed the need to map out the Federation’s work program, which should be long¬term undertaking, “general and flexible”, allowing for future benefit of experience, experiment and review and, thereby, ensuring that growth be progressive and balanced. After three days of strenuous work, the representatives laid the foundation for a new era in regional collaboration among Afro-Asian countries in the field of insurance.

Venue: Cairo - Egypt
Date: 3rd to 5th September 1964
Theme: Formation of FAIR

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