- Title: IVORY COAST: AFRICAN INSURANCE CONFERENCE OPENS IN ABIDJAN.
- Date: 6th March 1974
- Summary: 1. GV Stabilisation Fund Building. 0.05 2. SV INT. Delegates entering and seated. 0.10 3. SV Vice President takes seat. 0.16 4. SV PAN Delegates... Algeria, Libya, Tunisia, Mali, Ugonda, Morocco. 0.26 5. Sv Vice President speaking. 0.33 6. SV & GV Delegates listening. Vice President continues speaking. (3 shots) 0.42 7. SV Diplomatic corps listening. 0.50 8. SV Delegates applauding. 0.54 9. Sv PAN Delegates leaving. 1.01 10. SV Vice President leaving. 1.07 Initials VS 17.38 VS 17.51 Script is copyright Reuters Limited. All rights reserved
- Embargoed: 21st March 1974 13:00
- Keywords:
- Location: ABIDJAN, IVORY COAST
- Country: Ivory Coast
- Reuters ID: LVA4CE65HMU8KGIHNCYPP41SKZZ8
- Story Text: Delegates from the 21 member countries of the African Development Bank met in Abidjan, the Ivory Coast capital, to discuss the creation of an African Insurance Society on Monday (4 March).
The four-day meeting was to study the economic and legal problems involved in setting up the society, which would underwrite member Insurance Companies.
The idea of the African Insurance and Reinsurance Corporation was initiated in 1966, following a study by the African Development Bank.
Further studies culminated in a comprehensive feasibility study into the financial and organisational aspects of the proposed corporation. On the basis of this study, the agreement establishing the corporation was also drafted.
The purpose of the Abidjan meeting was to consider some of the difficulties to be overcome in finally making the corporation a fact. The 50 delegates attending the conference will also set up a co-ordinating committee to help the African Development Bank prepare offers to be presented to all African countries.
Presiding over the conference was the Vice-President of the African Development Bank, Mr. Louis Negre.
The African Insurance and Reinsurance Corporation could, in time, play a fundamental role in generating greater financial resources for African economic development in general, as well as helping to build the insurance industry in Africa.
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