Referring to the hosting of the 28th AIO African Reinsurance Forum by the INSURANCE FEDERATION OF EGYPT (IFE), scheduled to take place from October 12 to 15, 2024, in Cairo, Egypt, under the theme “HARMONISATION: UNITING THE AFRICAN (RE) INSURANCE MARKETS FOR A SUSTAINABLE FUTURE,” the forum has received generous sponsorship from the Egyptian Ministry of Investment and Foreign Trade, along with continuous support and sponsorship from the Financial Regulatory Authority (FRA). This dual support highlights Egypt’s strong commitment to enhancing Egyptian African cooperation and developing an active and dynamic insurance and reinsurance market across the African continent.
This year’s forum will be a prominent opportunity to enhance cooperation between the Egyptian and African insurance markets and to establish these markets’ positions on both the Arab and global levels, providing new opportunities for supporting and developing the insurance industry and sharing expertise. Egypt was chosen to host this event due to the size of its insurance and reinsurance market among African markets, its tourist appeal, and its strategic geographical location. The INSURANCE FEDERATION OF EGYPT (IFE) continually looks towards the African continent for the significant business growth opportunities and promising experiences in insurance inclusivity and sustainable insurance.
The forum will focus this year on harmonization and the potential for collaboration between insurance and reinsurance markets in Africa to drive sustainability and growth. Key discussions will cover global reinsurance trends, the importance of regulatory framework harmonization, and challenges faced by insurance companies in fully supporting these initiatives. The forum will also address Africa’s role in the voluntary carbon market, lessons learned from global markets, and the latest regulatory developments, providing a roadmap for harmonizing African markets and enhancing their global competitiveness. The agenda will include the following topics:
• Harmonisation: Uniting the African (Re)Insurance Markets for a Sustainable Future
• General Overview of Global Reinsurance Trends
• Why Harmonisation Matters
• Empowering Africa: Navigating the Voluntary Carbon Market, Insurance, and Reinsurance Perspectives
• Regulatory Developments to Date
• The Global Picture: What Africa Can Learn
• Harmonisation in Practice: Why Don’t Insurers Back These Proposals Fully?
The forum is expected to witness participation from over 500 attendees, representing regulatory bodies, insurance federations, insurance and reinsurance companies, insurance brokerage firms, and technology service providers from African, Arab, and global insurance markets. To date, up to 400 participants have registered on the website, representing more than 41 countries worldwide, with 68% of attendees coming from outside Egypt.
The forum will feature a diverse range of managerial levels, with senior management representing 46% of the total attendance from major institutions, agencies, and specialized insurance and reinsurance companies, numbering over 120 entities.
Many leading regional and global insurance and reinsurance companies have sponsored this important event and reserved numerous meeting rooms for business development meetings and reinsurance agreement renewals. EgyptAir, the national airline of Egypt, is also participating as the official transport sponsor for this significant event.
The Egyptian Insurance Federation was established in Egypt in 1953 under Minister of Finance and Economy Decision No. (156) of 1953. It is a non-profit organization with an independent legal personality and includes all insurance companies operating in the Egyptian market, numbering 40 companies. It aims to improve the insurance industry and related professions, update them, and establish proper insurance work concepts and practices.
The African Insurance Organisation (AIO) was established in 1972 as a non-governmental organization recognized by many African governments. According to the headquarters agreement signed by the Cameroonian government with the organization, the organization’s permanent secretariat was established in that country. It has 405 members, including African insurance and reinsurance companies, national and regional insurance federations, regulatory bodies, microinsurance and inclusive insurance institutions, extending across 59 African countries and other countries outside Africa. The African Insurance Organisation has also created various risk entities and associations to help its members manage risks effectively, currently encompassing 11 entities.
We invite you to join us for this prominent event for valuable discussions and unparalleled networking opportunities that contribute to the unification of the reinsurance future in Africa. For more information, visit [https://aio-events.org].
