Afro-Asian Insurers Federation names Adel Mounir as New Secretary General

Adel Mounir, Vice Chairman of Operations and Insurance at Egypt’s Misr Insurance Holding and a former regulator, has been named as Secretary General of the Federation of Afro-Asian Insurers and Reinsurers (FAIR). He replaces Hammam Badr, who recently resigned from the organisation.

Mounir joined Misr Insurance Holding in 2013 after eight years working with the regulator, first as the Chairman of the Egyptian Insurance Supervisory Authority and, after it was named as the Egyptian Financial Supervisory Authority, as its Deputy Chairman. He was a founder of the Arab Forum of Insurance Regulatory Commission, and was its Chairman from 2009 to 2011.

He was also deputy chairman of the IAIS Market Conduct committee and regulations, Board Member of the IAIS Executive Committee, Board Member of Access to Insurance Initiative, Board Member of Trustees, Board Member of African Reinsurance Corporation.

Mounir also has an established academic career, lecturing as a Professor of Insurance & Actuarial Sciences, initially with Assiut University and at present with Cairo University. He received his PhD in Insurance & Risk Management from Wharton School, University of Pennsylvania.

He has been an active participant in issuing the compulsory motor insurance law in Egypt and its executive regulations, issuing Market Conduct measures and regulations, modernizing the insurance supervising law in Egypt to cope with international standards, preparing a draft law on supervision of health insurance, preparing a draft law for enhancing the supervisory system of insurance and pension funds, preparing a strategic plan for shifting towards risk- based supervision.