Membership of the International Association of Insurance Supervisors was received by IFSCA (IAIS).

 

♦ IFSCA can join the IAIS global network via this membership and can share views and information with other global regulatory agencies.

♦ In the IFSC of GIFT City, this will help set up a vibrant global insurance centre.

♦ GIFT IFSC currently operates 17 leading insurance companies active in offshore insurance and reinsurance undertakings.

♦ This membership will make a major contribution to the connection between IFSC and global insurance organisations, and will allow IFSCA and other global insurance companies to grow global insurance businesses together.

♦ About International Association of Insurance Supervisors (IAIS):

♦ IAIS (International Association of Insurance Supervisors) is a voluntary membership group that accounts for 97 percent of global insurance premiums for insurance regulators from more than 200 jurisdictions.

♦ It is an international standard-setting body responsible for formulating and assisting in the implementation of insurance industry oversight principles, regulations and other supporting materials.

♦ A platform for members to share their expertise and understanding of insurance supervision and the insurance industry is also given by IAIS.

♦ G20 leaders and other international standard-setting bodies typically need the acknowledgment of their collective abilities by the IAIS.

♦ It has its headquarters in Switzerland and was established in 1994.