The President, African Insurance Organisation, Mr Tope Smart, has commended the Republic of Cameroon for its support for the organisation in fostering insurance growth on the continent.
A statement said he spoke during the revision of the headquarters agreement between the government of the Republic of Cameroon and the AIO.
Smart said, “We are particularly touched by the several advantages the government of the Republic of Cameroon is granting our organisation in this agreement.
“We can cite the holding of funds in local currency or hold foreign currency bank accounts, the possibility to transfer AIO funds or currencies or convert any currencies held by us into any currency, tax exemptions, immunity and protection of our expatriate staff, advantages to local staff etc. The list is long, and for this, we remain very grateful.”
He noted that the AIO, established in 1972, was an international organisation recognised by 48 African governments, including the government of Cameroon where its headquarters was located.
Smart said the AIO had 446 members from 48 countries in Africa and 14 associate international members from nine countries.
Membership, he explained, was open to actors from the insurance industry, regulatory/supervisory authorities, insurance training centres, national and regional insurance associations and insurtech companies.
He said the main objectives of AIO were the development of a healthy insurance and reinsurance industry and the promotion of inter-African cooperation.
“The AIO holds its events, notably the conference and annual general assembly and the reinsurance forum on a rotatory basis in a selected African country,” he said.
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