15.
VI. DECISION ON FURTHER ACTION
Summing up its work, the Round-table Meeting decided that the project
on the establishment of the Asian Reinsurance Corporation had reached its
concluding stage successfully and could be proposed to the Governments for
immediate implementation. To that effect the Meeting adopted by consensus the
following recommendation:
"The participants in the Second Round-table Meeting on an Asian
Reinsurance Co-operation, comprising representatives of the Governments of
Afghanistan, Bangladesh, India, Indonesia, Iran, Malaysia, Nepal, the Philippines, the Republic of Korea, Singapore, Sri Lanka and Thailand:
- Recalling the deliberations of the First Round-table Meeting, held
in Bangkok in. October 1974, when the participants accepted unanimously the
principle of, establishing an Asian Reinsurance Corporation as the most appro--
priate form of regional co-operation in the field of reinsurance;
Recalling further their decision to entrust to a preparatory committee
the carrying put of the necessary investigations as regards the feasibility of
this project, on the basis of which a final decision should be taken with
regard to the establishment of an Asian Reinsurance Corporation by the Governments
of the region;
Noting that the preparatory committee in its conclusions recognized that
such an Asian Reinsurance Corporation would play a very useful role, particularly
in the spheres of developing technical expertise and of increasing the under-
writing and retention capacities of the insurance markets of the countries and
of the region as a whole and achieving a considerable saving in foreign rein-
surarce expenditure;
Noting further that the preparatory committee also recognized the
feasibility and the viability of the project, since a considerable volume of
treaty and facultative subiness which is ceded at present abroad, will be
channelled by the insurance markets of the region into the proposed Asian
Reinsurance Corporation;
Considering that the draft agreement establishing the Asian Reinsurance
Corporation, prepared by the preparatory committee with the help of the secre-
Economic and Social Commission for Asia and the Pacific and revised by the