The Egyptian Prime Minister Essam Sharaf and his Deputy the Minister of Finance, Hazem Beblawi, will open the 22nd conference of the Federation of Afro-Asian Insurers and Reinsurers (FAIR) on Monday.

FAIR is considered the first and largest international conference held in Egypt after the January 25 Revolution shook the political, economic and social spheres.

The conference, which will continue until Thursday, is focused under the banner of: “The role of the insurance industry as a catalyst for development and prosperity of the economy in the Afro-Asian countries.”

Official delegations from 55 African and Asian countries will participate, along with representatives of the insurance markets in the United States, Europe and 260 companies from Afro-Asian areas.

Abdel Raouf Qotb, the Egyptian head of the Insurance Federation, stated that Cairo took on the task of hosting the conference after the original host, Libya, apologised and had to excuse itself from hosting.

The conference addresses many highly important subjects, such as the impact of the fluctuation in the global economy, developments in the insurance industry and the development and prosperity of African and Asian economies.

Also on agenda are insuring for natural disasters and violence risk, as well as the development of life insurance in Afro-Asian countries.