International Association of Insurance Supervisors

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Objectives

The IAIS was established in 1994. Its objectives are to:

cooperate to contribute to improved supervision of the insurance industry on a domestic as well as on an international level in order to maintain efficient, fair, safe and stable insurance markets for the benefit and protection of policyholders promote the development of well-regulated insurance markets contribute to global financial stability The IAIS provides an effective forum for standard-setting and implementation activities by providing opportunities for both practitioners and policy makers to share their expertise, experience and understanding.

Membership

Currently its membership includes insurance regulators and supervisors from over 190 jurisdictions in some 140 countries. In addition, there are more than 130 Observes representing industry associations, professional associations, insurers and reinsurers, international financial institutions, consultants and other professionals.

Chair of the Executive Committee

Peter Braumüller, Director Insurance Supervision, Financial Market Authority, Austria.

Secretariat

Yoshihiro Kawai, Secretary General, supported by ten staff and six secondees from member countries.

Reporting arrangements

Each year the IAIS holds an Annual Conference where supervisors, industry representatives and other professionals discuss developments in the insurance sector and topics affecting the insurance industry. The General Meeting is held during the Annual Conference. All members and observers are invited but only members can vote on resolutions. During the General Meeting members accept the past year's financial statements, approve the budget for the coming year, vote on nominations to the Executive Committee and adopt key documents, including supervisory papers.

Committees

An Executive Committee, whose members represent different geographical regions, heads the IAIS. It is supported by three main committees - the Technical Committee, the Implementation Committee and the Budget Committee. These committees form subcommittees or working parties to accomplish their objectives.

Standard setting activities

The IAIS develops principles, standards and guidance for effective insurance supervisory regimes. The IAIS also prepares supporting papers that provide background on specific areas of interest to insurance supervisors. IAIS supervisory papers are developed by subcommittees or working parties and approved by the parent committee, in most cases the Technical Committee. Standards, principles and guidance papers must be adopted by the membership at the General Meeting.

Standard implementation activities

The IAIS actively promotes the implementation of its supervisory papers. Working closely with international organisations, regional groups and supervisors, it supports training seminars and conferences. In addition, the IAIS contributes to assessments of observance of standards in close collaboration with the International Monetary Fund and the World Bank,


Further information can be found at http://www.iaisweb.org

International Association of Insurance Supervisors

c/o Bank for International Settlements Centralbahnplatz 2 CH-4002 Basel, Switzerland Tel +41 61 225 7300 Fax +41 61 280 9151 E-mail iais@bis.org

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