International Insurance Conference on Political Violence

ISLAMABAD – April 13, 2010: Mr. Salman Ali Shaikh, Chairman Securities & Exchange

Commission of Pakistan was the Guest of Honor at F.A.I.R International Insurance

Conference on Political Violence held at Sheraton Hotel Karachi in Karachi on 12th & 13th

April, 2010.With the spirit to involve, to educate, to discuss and to resolve, the Pakistan

Insurance Institute (PII) held the first of a kind of F.A.I.R (The Federation of Afro-Asian

Insurance and Reinsurers) International Insurance Conference on Political Violence .

The Federation of Afro-Asian Insurance and Reinsurers, “F.A.I.R” was established in

September 1964, to promote cooperating among insurance and reinsurance companies in

Africa and Asia, through the regular exchange of information, expertise and the development

of business relations. Pakistan Insurance Institute became a member of F.A.I.R in 2009.

The subject at hand was addressed by a galaxy of internationally renowned speakers from

SwissRe, SCOR, Allianz, Lloyd’s of London, Ceylinco, Aon Benfield, UIB and Crescent

Global. Apart from these international speakers, there were over 300 delegates and

participants from different areas of Insurance industry who took part in the conference as

well.Mr. Salman Ali Shaikh, Chairman Securities & Exchange Commission of Pakistan in his
address praised the efforts of Pakistan Insurance Institute on organizing a conference on such

an important subject. He further said that insurance industry plays an important role in the

financial system by providing indemnification of financial risk in the economy and also

serves as an institutional investor for both capital and money market instruments. SECP being

the insurance regulator is proud to quote the significant liberalization of the insurance market

in Pakistan. Mr. Shaikh focused that the insurance industry in Pakistan can enhance its

outreach penetration by leveraging state of the art technology and accessing multiple

channels of distribution and now is the time that insurance companies should also become

more customer-responsive and adopt Corporate Social Responsibility (CSR) as a conscious

approach to integrate with the demands of the society and add economic value to their

businesses. Coming to the theme of the conference, he said that terrorism is a national issue

having major impact on the social and economic activities of the country. The recent terrorist

terrorism has developed into a threat which affects every aspect of society and knows no

national boundaries. He announced that SECP is collaborating with the Asian Development

Bank for setting up a Terrorism Pool by the end of this year.