Anuar Mohd Hassan Elected Chairman

25th Technical Board meeting
Wednesday 21/10/2009
Kuala Lumpur – MALASYA

Anuar Mohd Hassan
Elected Chairman

The Technical Board held its 25th meeting in Kuala Lumpur to elect a Chairman form its newly elected members.

The Managers “Trust Re” chaired the meeting with this single item on the Agenda.

Mr. Anuar Mohd Hassan, President & Group CEO of MNRB (Malaysian Re) was elected by the Members as Chairman of the Technical Board.

Mr. Hassan presided over the Syndicate Technical Board and General Assembly meetings since it was established in 1999

Mr. Hassan thanked the Board Members for their confidence and assured them of his continued dedication to the Syndicate.

11th General Assembly meeting held in Kuala Lumpur

11TH GENERAL ASSEMBLY MEETING
Wednesday 21/09/2009
Kuala Lumpur – MALAYSIA

The 11th General Assembly meeting of was held on 21/10/2009 in Kuala Lumpur – Malaysia during the 21st General Conference of the Federation of Afro-Asian Insurers & Reinsurers (FAIR)

The main items on the Agenda were; the approval of the Technical Board report, the approval of the auditors report & the 2008 Financial Statements, and the election of a new Technical Board.

The Technical Board provided a full report on the operation of the Syndicate during 2008 with a future outlook, and indicated that 4 additional companies joined the Membership of the Syndicate with effect from 1/1/2009 Thus; increasing the total number of the Syndicate Members to 36 from 22 Afro-Asian countries.

The General Assembly also approved the auditors report and The Financial Statements for the year ended 31/12/2008 which showed that the premium written by the Syndicate during 2008 totaled US$ 8,631,686 compared to US$ 7,084,282 in 2007 and the net profit realized from the operation is US$ 2,547,812 compared to US$ 2,408,590 in 2007, while the average Loss Ratio stood at 28% during the 9 years of operation.

A new Technical Board for a 4-year period starting 1/1/2010 was elected as follows:

Malaysian Re
– Malaysia
Arab Insurance Group (ARIG)
– Bahrain
Misr Insurance Co.,
– Egypt
Bimeh Markazi
– Iran
Libya Insurance Co.,
– Libya
General Insurance Corp.
– India
Trust Re (Managers)
– Bahrain

The General Assembly thanked the Members of retiring Technical Board for their valuable contributions during the term of their duty, and wished the newly elected Members all the best in their new assignment.

The General Assembly also thanked the Managers “Trust Re” for their continuous efforts in handling the business of the Syndicate.

Date for 11th General Assembly meeting is set.

Date for 11th General Assembly meeting is set.

Invitations to attend the 11th General Assembly meeting of the Syndicate were circulated by the Managers: Trust Re, on August 20, 2009 by Fax & post.

The meeting will take place during FAIR 21st Conference in Mandarin Oriental Hotel Kuala Lumpur, Malaysia on October 21, 2009 at 15:45 hrs.

The Agenda of the meeting, with all related documents, is presently being prepared and will be dispatched to the Member Companies in due course.

The Agenda will also be made available for download in PDF format in the Member Companies Log In section of the Syndicate Website upon its completion.

23rd Technical Board meeting held in Bahrain.

23rd Technical Board meeting
Thursday 9/4/2009
Manama – BAHRAIN

The Technical Board of the Syndicate held its 23rd meeting in the Managers’ offices in Manama on Thursday 9/4/2009 to discuss the Managers’ Report and the Finanical Statement for the year ended 31/12/2008.

After due deliberation the Board approved the reports and decided to hold the 11th General Assembly meeting during the Federation of Afro-Asian Insurers & Reinsurers general meeting in Kuala Lumpur, Malaysia in October 2009.

The Board also thanked the Managers for the positive progress of the Syndicate.

22nd Technical Board meeting held in Istanbul.

22nd Technical Board meeting
14/10/2008
Istanbul – TURKEY

The Technical Board held its 22nd meeting during the Executive Committee meeting of the Federation of Afro-Asian Insurers & Reinsurers (FAIR) on 14/10/2008 under the Chairmanship of Anuar Nohd Hassan at the presence of the majority of the members and FAIR Secretary General Ezzat Abdel-Bary, and discussed various items on the Agenda in preparation for the 10th General Assembly meeting of the Syndicate which took place later on the same day.

After due deliberation the Technical Board approved the items on the Agenda.

10th General Assembly meeting held in Istanbul

10th General Assembly meeting
14/10/2008
Istanbul – Turkey

10th General Assembly meeting of FAIR Oil & Energy Insurance Syndicate was held on 12/10/2008 in Istanbul – Turkey during the 22nd Executive Committee meeting of the Federation of Afro-Asian Insurers & Reinsurers (FAIR)

The main item on the Agenda was the approval of the Financial Statements for the year ended 31/12/2007 which showed that the premium written by the Syndicate during 2007 totaled US$ 7,084,282 compared to US$ 5,843,951 in 2006 and the net profit realized from the operation is US$ 2,408,590 compared to US$ 1,092,141 in 2006, while the average Loss Ratio stood at 30% during the 8 years of operation.

The Technical Board report to the General Assembly indicated that 3 additional companies joined the Membership of the Syndicate with effect from 1/1/2008 Thus; increasing the total number of the Syndicate Members to 32 from 20 Afro-Asian countries.

FAIR Oil and Energy Insurance Syndicate started its operation in October 1999 by accepting Oil & Energy business on Facultative basis from its Members and also non- Member companies and Brokers.

The premium written by the Syndicate since the start of the operation till the close of the financial year in 2007 totaled US$ 30,448,387 and generated a net profit of US$ 5,514,935 for the same period.

International Oil & Energy Conference 2008 held in Malaysia.

International Oil & Energy Conference 2008
20-23 July 2008
Kuala Lumpur – MALAYSIA

Nabil Hajjar, the Director of the FAIR Oil & Energy Insurance Syndicate was invited to this 2-day conference organized by the Malaysian Insurance Institute and attended by a large number of participants representing insurance & oil companies in Malaysia and Asia, to talk about the Syndicate operation as a recognizable regional Oil & Energy reinsurance capacity.

21st Technical Board meeting held in Bahrain.

21st Technical Board meeting
23/4/2008
Manama – Bahrain

The Technical Board held its 21st meeting at the Managers offices in Bahrain on 23/4/2008 under the Chairmanship of Anuar Nohd Hassan at the presence of the majority of the members and FAIR Secretary General Ezzat Abdel-Bary, and discussed various issued on the Agenda which comprised the following items:

  1. The Managers Report.
  2. The Audited Financial Statement for the year ending 31/12/2007 for recommendation to the General Assembly.
  3. The appointment of the Auditors for the year 2008 for recommendation to the General Assembly.
  4. Approve/ratify the changes in Members/Membership, and determine the number of units allocated for the year 2008

After due deliberation the Technical Board approved the items on the Agenda and decided to hold 22nd Technical Board meeting and 10th General Assembly meeting in October 2008 in Istanbul-Turkey during the FAIR Executive Board Meetings.

4th International Conference on Risk Management held in Kazakhstan.

4th International Conference on Risk Management
17-18 April 2008
Almaty – KAZAKHSTAN
Eurasia Insurance Co., of Kazakhstan organized a 2-day conference on Risk Management in Almaty, and was attended by a large number of participants.

The Syndicate Director; Nabil Hajjar was invited to introduce FAIR Oil & Energy Insurance Syndicate to the participants who represented various insurance companies from Kazakhstan and the neighbouring countries.

The introduction was in line with the Syndicate plan to become recognized in the CIS countries as an available regional reinsurer with sizable capacity.

Seminar on Oil & Energy Insurance held in India.

Seminar on Oil & Energy Insurance
19-20 June 2006″
Mumbai – INDIA
General Insurance Corporation of India GIC organized a 2-day seminar on Oil & Energy in Mumbai, and invited experts from Europe & and the Indian local market including representatives of the Oil companies operating in India to present and discuss subjects related to Oil & Energy insurance . The seminar was attended by 50 participants representing the major insurance companies in India.

The Director of FAIR Oil & Energy Insurance Syndicate, Nabil Hajjar was invited to this seminar to provide introductory remarks in the Inauguration Session and make a presentation about the Syndicate.

Trust Re’s Senior Energy & Marine Underwriter Thommy Thomas was also invited to present and paper on the subject.