Within the framework of the Egyptian insurance and reinsurance market’s keenness to strengthen its relations with other African insurance markets and solidify Egypt’s position as a leading African country in this vital sector, the INSURANCE FEDERATION OF EGYPT, under the patronage of the Egyptian Financial Regulatory Authority (FRA) , is hosting the 28th African Reinsurance Forum organised by the African Insurance Organisation (AIO) from October 12 to 15, 2024, at the InterContinental City Stars Hotel in Cairo.
This significant event, in its 28th edition, is held under the theme “HARMONISATION: UNITING THE AFRICAN (RE) INSURANCE MARKETS FOR A SUSTAINABLE FUTURE”, emphasizing the importance of unity within the African insurance and reinsurance industry. It highlights the need to create a cohesive and integrated market environment across different African countries, with the aim of fostering a more efficient, resilient, and sustainable insurance and reinsurance sector that can better meet the needs of the continent’s growing populations and economies.
In this context, Mr. Alaa El-Zoheiry, Chairman of the Insurance Federation of Egypt and President of the Local Organising Committee of the event, emphasized the importance of cooperation and integration among African insurance companies. He affirmed that this forum is one of the main drivers for developing the reinsurance industry in Africa and that it will be a significant step towards building a cooperative and strong African insurance market capable of facing future challenges. El-Zoheiry emphasized that this session will be a prominent event in the regional insurance sector. He ensured that the participants will have a unique opportunity to exchange experiences and build new partnerships. They will also have a rich experience in Cairo, a major commercial and tourist center in the region.
Mr. Jean Baptiste Ntukamazina, Secretary General of the African Insurance Organisation, expressed his appreciation to the support received by the forum from the Financial Regulatory Authority and the Insurance Federation of Egypt. He anticipated that this event would contribute to strengthening cooperation among African insurance markets and opening new horizons for growth. Ntukamazina noted that the forum’s agenda includes a variety of important topics and will see the participation of a unique group of experts in the field of insurance and reinsurance. The event will also include a series of meetings for the committees of the African Insurance Organisation, which will contribute to strengthening cooperation among the organization’s members.
Noteworthy that the Insurance Federation of Egypt was established in the Arab Republic of Egypt in 1953 by the Minister of Finance and Economy Decision No. (156) of 1953. It is a non-profit organisation with an independent legal personality, which includes all 40 insurance companies operating in the Egyptian market, and aims to work to raise the level of the insurance industry and related insurance professions and modernise them and establish the concepts and norms of correct insurance work.
The African Insurance Organisation, established in 1972, is a non-governmental organisation recognized by many African Governments. Following the headquarters agreement the Government of Cameroon signed with the organisation, the Permanent Secretariat of the AIO was setup in that country. It has 405 members, including African insurance and reinsurance, national and regional insurance federation, regulatory bodies, and micro-insurance and inclusive insurance institutions, spanning 59 African countries and other countries and overseas countries. The AIO has also created various risk pools and associations to assist its members in effectively managing risks, now comprising 11 bodies.
The forum’s website has been launched, and registration is now open through the following link: https://aio-events.org/
