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| 1972 |
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The third session of UNCTAD passed Resolution 42 (iii) – endorsing that a sound national insurance and reinsurance market is an essential characteristic of economic growth and called for regional cooperation. |
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| 1974 |
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18 developing countries of ESCAP region accepted in principle the establishment of a regional institution viz: the Asian Reinsurance Corporation |
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| 1976 |
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A Draft intergovernmental Agreement was drawn up and decision on location of Headquarters taken |
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| 1977 |
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The Agreement was signed by seven countries |
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| 1978 |
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Eight countries completed requirements and formalities as per the Agreement |
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| May 1979 |
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Inaugural Meeting of the Council of Members was held |
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| 1 Jan 1980 |
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Asian Re commenced operations with an authorised capital of US$15 mn. and paid up capital of US$4.5 mn. from nine countries. |
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| 1993 |
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Tenth country completed formalities and joined. Paid up capital increased to US$5 mn. |
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| Nov 2000 |
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Amendment approved by member countries opening up membership to developed countries and removing the ceiling on capital contribution by members |
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| Jul 2005 |
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Amendment approved permitting the entry of Associate members. |
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Authorised capital increased to US$ 100 mn. |
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| Dec 2006 |
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Admitted six Associate members. Paid up capital increased to US$19.3 mn. and networth to US$33.8 mn.
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| Dec 2007 |
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Associate members increased to seven. Paid up capital increased to US$28.4 mn, and networth to US$51.6 mn. |
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| Mar 2008 |
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A.M. Best assigns “B++” (Good) for Financial Strength Ratings and “bbb” for Issuer Credit Ratings with “stable” outlook. |
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| Jan 2009 |
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Eighth Associate member joined. Paid up capital increased to US$ 30.2 mn. and net worth to us$ 51.4 mn. |
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| Dec 2010 |
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The net worth grew to US$ 54.72 mn.
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