Aggregated News From Investment Management Regulators

International Association of Insurance Supervisors (IAIS) re-elects Ante Žigman as CEET region representative in the Executive Committee and chooses Dubrovnik to hold Global Seminar in 2020

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Published: 03. December 2020.

President of the Board of the Croatian Financial Services Supervisory Agency (Hanfa) Ante Žigman has been re-elected as a member of the Executive Committee of the International Association of Insurance Supervisors (IAIS) as the representative of the CEET region (Central and Eastern Europe and Transcaucasia).

In October 2020, members of CEET region re-elected Ante Žigman as their representative in the IAIS Executive Committee for a term of two years, and his re-election was confirmed by IAIS members at the IAIS General Assembly held yesterday.

In addition, at the Executive Committee meeting held yesterday, the IAIS decided by an absolute majority that Hanfa would for the first time host the IAIS Global Seminar, which will be held in Dubrovnik in June 2022. This is the largest meeting of international insurance supervisors and insurance industry representatives, gathering almost 500 participants from around the world every year. The participants will have an excellent opportunity in Dubrovnik to discuss topics important for the local, regional, European and global insurance market.

The IAIS mission is 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.

I consider my re-election as a member of the Executive Committee and the selection of Hanfa as the host of the Global Seminar in 2022, to be a great success for Hanfa and Croatia, since we have been in this organisation which gathers almost all global insurance regulators for only two years. As a representative of the Central and Eastern Europe and Transcaucasia, I intend to encourage changes for better insurance supervision, stronger consumer protection and education and continue to encourage companies in the digital development of their business. This is particularly important in these challenging times in which we are faced with the coronavirus pandemic.

Due to population ageing across Europe, and since pension services will increasingly shift from public to private sector, the role of insurance companies in providing retirement services will also change, and the synergy between supervision and the pension and insurance industry will be key for boosting new products. As a regulator of both fields in Croatia, Hanfa possesses relevant experience and can be a leader in new international initiatives, but it can also transfer the best international experience in the supervision of the Croatian financial sector. I am looking forward to meeting with colleagues from supervisory authorities and representatives of the insurance industry and IAIS in Dubrovnik in 2022, where we will be able to discuss these and many other topics, with special emphasis on topics important for the region,” said A. Žigman on that occasion.

Established in 1994, the IAIS is a voluntary membership organisation of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums. 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.

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Regulator Information

Abbreviation: HANFA
Jurisdiction: Croatia

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