General Insurance Article - GFIA issues first Annual Report

 On the first anniversary of its foundation, the Global Federation of Insurance Associations(GFIA) has published an Annual Report setting out the advocacy activities that it has undertaken on behalf of the world’s insurers over the past year.

 “Financial services regulation is now firmly on the global agenda, with the G-20 taking the lead. It is therefore important that the world’s insurers can speak with one strong, representative voice. In its first year, the GFIA has already proved itself to be a welcome and trusted counterpart and single point of contact for global policymakers and regulators,” said Frank Swedlove, chair of the GFIA and president of the Canadian Life & Health Insurance Association.

 “We can be proud that we have already achieved a great deal in terms of building positions, establishing contacts and launching our advocacy work,” said Swedlove.

 “It has been a busy year for us setting up the secretariat, but I am pleased that we are fully operational and can meet the needs of our members and respond to the demands of regulators,” added Michaela Koller, secretary of the GFIA and director general of Insurance Europe.

 Through ten working groups, the GFIA has produced detailed position papers and letters on topics that include systemic risk, corporate governance, market conduct, trade issues and financial inclusion. The GFIA Annual Report describes the activities of its working groups and provides details of the membership of the federation.

 The report is available to download from the GFIA website, www.GFIAinsurance.org.