Natural Catastrophe Risk Pool

   

          
   
 The 21st General Meeting of the Federation of Afro-Asian Insurers and reinsurers, Kuala Lumpur, 20-21 October, 2009 unanimously adopted the recommendation of the FAIR Executive Board to establish a REINSURANCE POOL for reinsuring the Natural Catastrophe Perils in following classes of the insurance business:
i.      Fire
ii.     Accident excluding credit and bonds business
iii.   Project Insurances (CAR & EAR)
 Object
The principal object of the POOL shall be to accept reinsurance and retrocession business from within the African and Asian Markets.

 

Furthermore, the POOL shall take the necessary action conclusive to increasing the underwriting capacity of the African and Asian Markets as a whole and of the individual members.