The International Association of Insurance Supervisors (IAIS) held its 21st Annual Conference and General Meeting in Amsterdam last week. During the conference the IAIS also held its biennial Executive Committee elections which saw the Commission’s Director General, William Mason, elected.
Established in 1994, the IAIS represents insurance regulators and supervisors from more than 200 jurisdictions in nearly 140 countries, constituting 97% of the world's insurance premiums.
Mr Mason said “I look forward to serving on the Executive Committee, ensuring that the perspectives of smaller countries are appropriately considered and working to ensure that IAIS delivers fair and proportionate insurance regulatory standards.”
The objectives of the IAIS are to:
- Promote effective and globally consistent supervision of the insurance industry in order to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders; and to
- Contribute to global financial stability.
The Commission’s Chairman, Cees Schrauwers, said “This is a significant appointment which reflects well upon Guernsey and its standing in the international community as well as enhancing the reputation of the Commission amongst its peers. William’s election also comes at a time of intensive reform in global insurance regulation as global capital standards are developed”.