Ghana has won the bid to host the 22nd Association of Insurance Supervisory Authorities for Developing Countries (AISADC)/ Association of Insurers and Reinsurers of Developing Countries (AIRDC) Biennial Educational Conference during the just ended 21st AISADC/AIRDC Conference held in September, 2018.

The Conference aimed at strengthening the insurance market of developing countries and fostering inter-regional cooperation within the international insurance industry. It was jointly organized by AISADC, AIRDC, the Insurance Regulatory Authority of Nepal (Beema Samiti) and the Nepal Insurers’ Association.

480 local and foreign delegates from 20 countries participated in the two-day Conference under the theme "Building Financial Resilience-Disaster Risk Financing and Insurance". The Ghanaian delegation was led by the Commissioner of Insurance, Mr. Justice Ofori and comprised fourteen Ghanaians drawn from the Commission, insurance and reinsurance companies.

The Conference theme was chosen bearing in mind the earthquake disaster which occurred in Nepal in 2015 and resulted in a massive amount of uninsured losses.

The Conference therefore encouraged discussions by various experienced and distinguished insurance professionals and experts on the subject of building financial resilience in the face of catastrophic risks. It also covered dialogues on insurance, microfinance, digitization in insurance and how regulators can create an enabling environment that encourages financial resilience and risk financing.

At the end of the Conference, Mr. Yassir Albaharna the immediate past President of AIRDC and Chief Executive Officer of Arab Reinsurance Group in Bahrain handed over the presidency to Mr. Vijaya Bahadur Shah, the Chief Executive Officer of Nepal Insurance Company Limited, Mrs. Elizabeth Wyns-Dogbe, the Chief Executive Officer of SIC Life Insurance Company Limited, Ghana was elected as the Vice President effective September 26, 2018 for the period 2018-2020.

Ghana, led by the Commissioner of Insurance, vied to host the next conference. The enviable position of host of 22nd Conference was closely contested between Tanzania and Ghana, and Ghana won the bid with an overwhelming amount of support. The 22nd AISADC/AIRDC Educational Conference will therefore be held in Accra-Ghana in 2020 where Mrs. Wyns-Dogbe will be crowned the President.

In her acceptance speech, Mrs. Wyns-Dogbe thanked the Board of Trustees and the entire members of AIRDC for the honour and the trust reposed on her, and Ghana to host the AIRDC Conference. She urged members to endeavor to come to Ghana to experience the peace and Ghanaian hospitality.

AISADC is the association of all supervisory authorities of developing countries, and it aims at promoting mutual understanding and cooperation among its members and strengthening insurance supervision and regulation in member countries.

AIRDC was established to develop and expand international collaboration in the business and practice of insurance and reinsurance.

Source: Business & Financial Times