International Association of Insurance Supervisors (IAIS)

The International Association of Insurance Supervisors (IAIS, extenal link) is an international standard-setting organisation in the field of insurance and is responsible for developing and promoting the implementation of principles, standards and other supporting materials for insurance supervision. The IAIS also serves as a platform for its members to share experiences regarding the development of insurance markets and the conduct of supervision. Its key mission is to support effective and globally consistent insurance supervision in order to develop and maintain fair, safe and stable insurance markets for the benefit of policyholders and to contribute to global financial stability.

The IAIS was founded in 1994 as a voluntary membership organisation of insurance supervisory authorities from more than 200 jurisdictions covering virtually all written premiums worldwide and is headquartered in Basel, Switzerland.

The IAIS currently consists of three key committees: the Policy Development Committee, the Macroprudential Committee and the Implementation and Assessment Committee. These committees include additional working groups. The highest decision-making body is the General Meeting, which convenes annually during the Annual Conference. The association is headed by the Executive Committee.

The CNB became a member of the IAIS in 2006 following the transfer of responsibilities from the Office of State Supervision in Insurance and Pension Funds, which had been a member of the IAIS since 1 January 2001. Among other activities, the CNB regularly contributes to the IAIS’s Global Monitoring Exercise for the insurance sector, which focuses on assessing risks and trends in insurance through an expanded set of key quantitative and qualitative indicators, and participates in surveys on various insurance-related topics. A representative appointed by the CNB also regularly attends the annual meeting, which includes the IAIS General Meeting.