Context:

International Financial Services Centres Authority (IFSCA) obtained membership of the International Association of Insurance Supervisors (IAIS).

IAIS

International Association of Insurance Supervisors (IAIS) is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.

Established in 1994, the IAIS is headquartered in Switzerland.

Role and responsibilities

• It is the international standard-setting body responsible for developing and assisting in the implementation of principles, standards and other supporting material for the supervision of the insurance sector.
• The IAIS also provides a forum for Members to share their experiences and understanding of insurance supervision and insurance markets.
• In recognition of its collective expertise, the IAIS is routinely called upon by the G20 leaders and other international standard-setting bodies.