The African Insurance Organisation (AIO), established in 1972, is a non-governmental organisation recognised by many African governments. Following the headquarters agreement the government of Cameroon signed with the organisation, the Permanent Secretariat of the AIO was set up in that country.
The AIO came into being in 1972 in Mauritius with the following objectives:
- To develop a healthy insurance and reinsurance industry in Africa
- To promote inter-African co-operation in Insurance
There are two categories of members:
- Full members
- Associate members
The AIO has 361 members: 347 of them from 47 countries in Africa and 14 associate members from 8 overseas countries.
Membership is open to the following:
- The Insurance Industry
- Regulatory/Supervisory authorities
- Insurance Training Centers
- National and Regional insurance associations
Structure of the AIO
The African Insurance Organisation consists of a General Secretariat, headed by a Secretary General, an Executive Committee, headed by the President and the General Assembly which is the supreme body of the Organisation.
- Organises the annual African insurance conference and General Assembly,
- Organises the annual African Reinsurance Forum
- Organises the annual Life Insurance Seminar, as well as various workshops and seminars during the year.
- Engaged in supervisory/regulatory capacity building and promotion of special work programmes.
- Publishes annually the African Insurance Annual Review as well as conference and seminar documents. It also maintains a website through which information on events in insurance especially in Africa is disseminated. This website will soon be interactive with the setting up of a Discussion Forum for members.
- Relaunched the African Insurance Bulletin in 2009.
- Established Technical Pools.
- Re-introduced the AIO Book Award for books written on the subject of insurance in Africa. This is with the aim of encouraging scholarly research.
Bodies established by AIO
The AIO has established a number of bodies under its umbrella notably;
- The African Aviation Pool.
- The African Oil and Energy Insurance Pool.
- The AIO Life Committee.
- The Association of African Insurance Supervisory Authorities.
- The Association of African Insurance Brokers.
- The Association of African Insurance Educators and Trainers.
- The African Centre for Catastrophe Risks.
On-going Strategic Goals:
- Improve the strategic relevance of the organisation in member countries.
- Restructure the secretariat to competently support the growth of the organization.
- Improve organisation brand and communication.
Priority Areas for the Future
- Consolidating and strengthening the existing pools and associations set up by AIO.
- Partnering with other organisations, notably the World Bank, UNCTAD , ILO and Access to Insurance Initiative in various capacity building programmes.
- Encourage the development of Microinsurance.
- Promoting African Regulatory Capacity Building.
- Promoting the capacity building of African Training Institutes.
- Promoting the Management of Life and Pension funds for development.
- Developing the AIO website into a veritable reference point for African insurance.
- Promoting the African Centre for Catastrophe Risks.
- Creating a Pool for Catastrophe Risks.
- Encouraging scholarly research.