Vice President Dr Mohamed Waheed has inaugurated the Afro-Asian Claim Awareness Conference hosted by Allied Insurance Company of the Maldives in association with Federation Afro-Asian Insurers and Reinsurance.
Speaking at Bandos Island Resort and Spa today to open the conference, the Vice President said conference underscored the growing importance of insurance sector in the Maldives.
He said, despite the increase in the number of high value properties and buildings in the Maldives, emphasis on insuring these properties and buildings was still very low, mainly due to lack of awareness of the importance of insurance.
Therefore, he noted the scope for insurance industry in the Maldives was big provided that the people were provided information and awareness on the importance of insurance.
Speaking on the success of the Federation of Afro-Asian Insurers and Reinsurance (FAIR.), the Vice President said FAIR was one of the best examples of cooperation among countries in the Southern hemisphere.
The Federation of Afro-Asian Insurers and Reinsurers was established in 1964, to promote cooperation among insurance and reinsurance companies in Africa and Asia, through the regular exchange of information, expertise and the development of business relations.
