The Association of Insurers and Reinsurers of Developing Countries (AIRDC) was formally established during the 2nd Third World Insurance Congress (TWIC) in Buenos Aires, Argentina on March 20-28, 1980, although an initial draft of the Associations constitution was submitted during the 1st TWIC held in Manila, Philippines on October 20-25, 1977, by the Philippine Delegation. Its constitution and by-laws were approved in the 4th TWIC held in Casablanca, Morocco on May 12-18, 1984.
It is a non-political, non-governmental, non-religious and non-profit making association whose members are insurance or reinsurance entities, domestically incorporated and owned by nations, bodies and/or organizations of developing countries or areas, or other related insurance organization such as companies, broker(s), national association(s), research or training institute licensed or registered in any developing country or area.
The Association guiding principle is to develop and expand international collaboration and cooperation in the fields of insurance and reinsurance of every type. It also has as its objective to strengthen the insurance market in developing countries and to foster inter-regional cooperation within the insurance industry.
The Association has as its objectives to strengthen the insurance markets in developing countries and to foster inter-regional cooperation within the insurance industry. To that end, the Association shall:
§ Cooperate in the establishment and promotion of permanent contacts among members;
§ Help in gathering, processing and exchanging of statistical data and of all kinds of information and experience relating to the insurance industry;
§ Develop a program of insurance education and research on common problems of the insurance market presented by its members;
§ Implement concrete means of technical cooperation;
§ Encourage the development of reinsurance relations amongst developing countries of areas;
§ Cooperate with public and private entities and with associations and regional organizations devoted to the promotion of the insurance industry in different areas in the world;
§ In general, promote any kind of action towards the effective accomplishment of the objectives.
· Africa: Egypt, Ghana, Kenya, Nigeria, Senegal, Mauritius, Malawi, Mozambique, Seychelles, Zambia, and Zaire
· Asia: Bahrain, Bangladesh, China, India, Indonesia, Korea, Malaysia, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, Thailand, Vietnam
· Latin America: Belize, Colombia, Cuba, Uruguay
· Other countries: Australia, England, France, Spain, USA
Permanent Secretariat of the Association is the Insurance Institute for Asia and the Pacific (IIAP). The 18th AIRDC General Annual Members Meeting elected new set of officers and members of the Executive Board of Trustees (EBoT) to serve from October 1, 2014 to September 30, 2015.
Association of Insurance Supervisory of Developing Countries (AISADC)
The Association of Insurance Supervisory of Developing Countries (AISADC) was a product of the first two of three conferences of the Third World Insurance Congress (TWIC) held in Manila, Philippines (1977), Buenos Aires, Argentina (1980) and Nairobi, Kenya (1982) respectively, wherein the insurance supervisory authorities who attended the conferences got together and signified their intention to organize themselves into a formal organization. The first formal meeting of the Association was held in Manila on January 27-28, 1983 hence formally establishing the AISADC.
It is a non-political, non-religious and non-profit making association was organized to develop and expand international collaboration and cooperation in the field of insurance supervision or regulation. Its members consist mainly of insurance supervisory authorities from their respective countries.
The supervisory authority aims to take all measures as it may deem necessary or desirable to assist, develop faster, promote and strengthen mutual understanding and cooperation among its members in the discharge of their official duties, and to extend assistance to any developing country upon its requests, in the establishment or strengthening of insurance supervision in such country.
Members include Insurance supervisory authorities in 17 countries:
· Africa: Egypt, Nigeria, Senegal, Tanzania UR.
· Australia: Papua New Guinea, Samoa.
· Europe: Netherlands Antilles.
· Latin America: Cuba, Ecuador.
The Council Members of the Association of Insurance Supervisory Authorities of Developing Countries (AISADC) are from Swaziland, Kenya, India, Iran, Philippines, Sri Lanka, and Thailand.