Morocco was elected on September 23 as president of the Afro-Asian Federation of Insurance and Reinsurance (FAIR), with the North African country serving a two-year term.
It will be represented by Youssef Fassi Fihri, general director of the Central Reinsurance Company (SCR).
This election, which was during the 26th FAIR Conference in Marrakesh, gathered almost 1,000 participants, representing 245 insurance and reinsurance companies in 54 countries across Asia, Africa, and the Middle East, Morocco World News reported.
Bahrain, represented by Yassir Albaharna, and FAIR’s board of directors handed over the presidency to Morocco during the conference’s opening ceremony.
The federation uses the reinsurance pool system for the benefit of Afro-Asian companies, the report added.
The 26th FAIR Conference was held from September 23 to September 25, and was organized by SCR. Its theme was ‘The New Economic Barriers in the Afro-Asian Insurance Markets’. FAIR was established in 1964, and it aims to promote cooperation among insurance and reinsurance companies in the markets of Asia and Africa. Its flagship conference is held every two years, with the venue alternating between Africa and Asia.
