GFIA continues engagement with G-20 and global leaders to support growth and investment
Source: Middle East Insurance Review | Dec 2016
The Global Federation of Insurance Associations (GFIA) has in its annual report for 2015-2016 noted the important role that the insurance sector continues to play in underpinning the Global-20 (G-20) goals of growth and investment, as well as GFIA’s continued engagement with the G-20 presidency, which this year was held by China.
The report, which highlights the federation’s areas of focus over the past 12 months, also outlines GFIA’s engagement in several regulatory areas, including global insurance capital standards, taxation and trade. It also includes a set of thought-pieces on key topics of concern, including market conduct, systemic risk and financial inclusion.
GFIA President, Governor Dirk Kempthorne, said: “As we look to 2017 and beyond, our industry must remain open and forward-looking, while also remaining mindful of our core business: protection. No matter what the future brings, families will still need protection, businesses will still need financial security, individuals will still need dignity in old age and communities will still need help to recover from natural or man-made disasters.
“It is insurers and reinsurers that provide this protection, which is critically needed around the world. As such, GFIA will work to ensure that they can continue to provide this essential protection and peace of mind for citizens.”