MEMBERSHIP / UNDERWRITING

All the members of the FAIR willing to offer a share from their treaties, are eligible for the membership of the Pool. However, the full membership is realized by entering reciprocal business exchange with the Pool, that is, ceding business to the Pool and accepting retrocession from the Pool's business by signing the Pool's Statute and Quota Share Retrocession Agreement.

Any company willing to be a member of the Pool which is not a FAIR member is requested to contact the Federation at the following address for the necessary Federation membership formalities:

The Secretary General
Federation of Afro-Asian Insurers & Reinsurers
129 ElTahrir Street, ElDoqi, Giza, Egypt
Tel : +201099575725
central-office@fair.org.eg
www.fair.org.eg
General Secretary : Mr. Mo’men Mukhtar

After the realization of the FAIR membership, the company approaches the Managers for the Pool membership supplying necessary documents i.e. particulars and statistics of the treaties they are willing to offer to the Pool. All the applications are thoroughly studied by the Managers and accepted or rejected according to the merits and demerits of the business offered.

UNDERWRITING

It is the underwriting policy of the FAIR Pool to write treaty business in all branches except Life and Aviation and to abstain from writing facultative business where there is not enough number to have balanced results. Aviation can be accepted as part of a bouquet.

RECIPROCITY

All the business ceded to the Pool is retroceded back to the members with a 100 % reciprocity. But for individual members considerably high ceded premiums, longstanding profitability and decent cash-flow can form basis for a more than 100 % reciprocity or vice-versa.

The Retrocession shares to be allocated to the members are fixed every year.