Historical Background


The Great visionary leaders and heads of states of twenty-nine countries from Africa & Asia came together for the first time in the history of the human being, on the 18th to 24th April 1955, in Bandung, Indonesia.
President Sukarno of Indonesia, Premier Zhou Enlai of China, Premier Jawaharlal Nehru of India, and President Gamal Abdel Nasser of Egypt played leading role to unanimously approve and announce Bandung Declaration. The declaration inspired nationalism movements in the two continents, remapped the world politics and set up the foundation for the Afro-Asian cooperation.
The declaration was translated into action plans. Under the title of economic cooperation, the Afro-Asian Economic Organization was established. It held its first and second general meetings in 1958 & 1960 in Cairo. It was then decided to work on sector basis to enhance efficacy and to attain better achievements. Insurance sector took priority and was put on the top of the adopted economic cooperation action programme. 
It was decided to establish an Afro-Asian Insurance Council with the initiative of Mr. Ahmed Choukry El-Hakiem, the Chairman of the Egyptian General Insurance Organization & the Chairman of the Insurance Federation of Egypt. During its fourth meeting held in Karachi, in 1963, Mr. El-Hakiem called for the founding meeting of the Federation of the Afro-Asian Insurers & Reinsurers “FAIR” with the invitation of the Egyptian Government.
FAIR Founders’ meeting was held in Cairo, in September 1964 with the presence of the representatives of twenty Afro-Asian Countries.