THE Asian Reinsurance Corp. (Asian Re) has elected Insurance Commissioner Denis B. Funa as vice chairman of its management board.
According to the Insurance Commission, Funa was elected vice chairman of the Management Board of the Asian Re at the 40th Meeting of the Council of Members and 11th Meeting of the Shareholders Assembly in Bangkok, Thailand on June 30.
The Asian Re is an intergovernmental organization established in May 1979 under the auspice of the United Nations Conference on Trade Development, and UN Economic and Social Commission for Asia and the Pacific (Unescap).
The organization is headquartered in Bangkok, Thailand, and operates as a professional reinsurer for its members. It accepts business from the insurance markets in its member-states, as well as other markets of the region, it also serves as a regional center for the collection of insurance information and development of expertise in insurance and reinsurance.
Originally, membership to the Asian Re is limited only to state members of the Unescap. However, on July 9, 2005, associate membership became open to Non-Unescap member-states, private organizations, private corporations, non-governmental organizations and
multilateral institutions.
At present, there are 10 Unescap member-states as regular members, including: Afghanistan; Bangladesh; Bhutan; China; India; Iran; South Korea; Sri Lanka; Thailand; and the Philippines.