BACKGROUND

The 3rd Meeting of the F.A.I.R.(Federation of Afro-Asian Insurers & Reinsurers)General Assembly was held in Istanbul on the 11th-14th September 1972 and it was unanimously decided to set up the FAIR Non-Life Reinsurance Pool with effect from 1.1.1974. The General Assembly also unanimously entrusted the management of the Pool to Millî Reasürans T.A.Ş., Istanbul .

The Pool is aimed to achieve the following objectives:

The principal object of the Pool is to accept reinsurance and retrocession business from the African and Asian markets in the following classes of insurance business:

The General Assembly is the supreme authority of the Pool and it is composed of all the members of the Pool and the Secretary General of F.A.I.R. as ex-officio member.

The General Assembly meets once every two years at the same venue and during the same period of the F.A.I.R. General Meeting.

The Technical Board consists of 8 member companies wherein either Africa or Asia elected by the Pool's General Assembly for a period of 4 years subject to extension. The Managers of the Pool, the Secretary General, the President of the F.A.I.R. are also the ex-officio members of the Technical Board.

The Technical Board meets regularly at least once a year at the Pool's office.

The Managers are appointed by the Pool's General Assembly to do all the administrative work necessary for the proper functioning of the Pool for a term of 4 years subject to renewal.

Millî Reasürans T.A.Ş. is entrusted with the management of the F.A.I.R. Reinsurance Pool since its establishment.

All the members of the F.A.I.R. willing to offer a share from their treaties, are eligible for the membership of the Pool. However, the full membership is realized by entering reciprocal business exchange with the Pool, that is, ceding business to the Pool and accepting retrocession from the Pool's business by signing the Pool's Statute and Quota Share Retrocession Agreement.

Any company willing to be a member of the Pool which is not a F.A.I.R. member is requested to contact the Federation at the following address for the necessary Federation membership formalities:

"Attention:
The Secretary General
Federation of Afro-Asian Insurers & Reinsurers
14, Gawad Hosny Street
Cario - EGYPT
Tel. : (202) 2392 36 30 & 2395 18 15
Fax : (202) 2392 18 48 & 2396 10 07
E-mail: central-office@fair.org.eg
Web site: www.fair.org.eg

After the realization of the F.A.I.R. membership, the company approaches the Managers for the Pool membership supplying necessary documents i.e. particulars and statistics of the treaties they are willing to offer to the Pool. All the applications are thoroughly studied by the Managers and accepted or rejected according to the merits and demerits of the business offered.

CEDING OFFICE

Non-member companies ceding business to the FAIR Reinsurance Pool are denominated "ceding offices" and have no right to receive reciprocity from the Pool.

It is the underwriting policy of the F.A.I.R. Pool to write proportional business and non-proportional on incidental basis, in all branches except Life and Aviation and to abstain from writing facultative business where there is not enough number to have balanced results. Aviation can be accepted as part of a bouquet.

The 21st Conference of the Federation Afro-Asian Insurers and Reinsurers (FAIR) will be held from the 19th to 23th October 2009 in Abu Dhabi, UAE.
As a professional business association, FAIR is dedicated to the cause of regional cooperation and the development of the Insurance Industry in Afro-Asian Countries.
Being part of this aim, FAIR Conferences are organized biannually in Africa or Asia in rotation, according to a decision from the General Meeting, which is the supreme authority of FAIR.
FAIR General Meeting holds its sessions in the course of the FAIR Conference, to determine inter alia the general policy and work programme and to elect the President of FAIR and the Executive Committee which shall meet at least once yearly and shall exercise all the powers of the General Meeting unless the latter is in session.

The recent past conferences have been held as follows:

1989- Beijing, China
1991- Khartoum, Sudan
1993- Kuala Lumpur, Malaysia
1995- Cairo, Egypt
1997- Bali, Indonesia
1999- Tunis, Tunisia
2001- Manila, Philippines
2003- Harare, Zimbabwe
2005- Mumbai, Ind ia
2007- Marrakesh, Morocco

The 36th Meeting of FAIR Reinsurance Pool's Technical Board was held in Istanbul-Turkey at Hyatt-Regency Hotel on Tuesday 14th October 2008.

The Technical Board Meeting was chaired by Mr.Ahmed Zinoun(SCR-Morocco), President of FAIR and attended by Mr. Ezzat Abdel Bary, Secretary General of FAIR, Mr. Mohamed Moussaif (ARIG-BAHRAIN),Mr.Bakary Kamara (African Re.Co.-NIGERIA), Mr. Nabil Cotran (Trust International Ins. Co.-BAHRAIN), Mr.Annouar Mohd Hassan, Mr. Mustaffa Ahmad (Malaysian National Reinsurance Berhad-MALAYSIA), Mr. Taher T.Al Heraki (Dhofar Ins. Co.-OMAN), Mr.Yogesh Lohiya(GIC-INDIA), Mr. Madhuswamy Ramadoss (Oriental Insurance Company-INDIA), Mr.Cahit Nomer (Millî Re-TURKEY) as well as Mr. Ahmet Çelebiler, Auditor of the Pool.

The members of the board, after perusing and discussing the reports of the Pool's Managers, approved the operations of the Fair Reinsurance Pool for the year 2007, as well as the retrocession accounts of the Pool and the financial summary.

The meeting ended with vote of thanks to the Chair.

Milli Re has been managing the FAIR Reinsurance Pool since its inception in 1974.