What we do
The International Association of Insurance Supervisors (IAIS) is the global standard-setting body responsible for developing and assisting in the implementation of principles, standards and guidance as well as supporting material for the supervision of the insurance sector.
Established in 1994, the IAIS is a voluntary membership organisation of insurance supervisors from over 200 jurisdictions, constituting 97% of the world’s insurance premiums. The IAIS develops international standards and supports their implementation and assessment, with the aim of promoting effective and globally consistent supervision of the insurance industry so as to develop and maintain fair, safe and stable insurance markets.
In addition, the IAIS has a forward-looking role in identifying key trends and developments that could reshape the business of insurance. This supports IAIS members in addressing emerging risks and challenges in insurance supervision. Currently, the areas of climate risk, conduct and culture, cyber risk and operational resilience, digital innovation, diversity, equity and inclusion (DEI) and financial inclusion are the strategic themes on which the IAIS is focused.
These themes are global in nature and cut across all the IAIS HLGs. The IAIS examines them through its monitoring and assessment activities and by promoting robust supervisory practices on how to respond proactively to developments in these areas. Recognising the cross-sectoral nature of these themes, the IAIS coordinates and collaborates with other standard-setting bodies and stakeholders, offering an insurance sector perspective.
The IAIS mission
The mission of the IAIS 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.
The IAIS coordinates its work with other international financial policymakers and associations of supervisors or regulators, and assists in shaping financial systems globally (see our Partners page). In recognition of our collective expertise, we are routinely called upon by the G20 leaders and other international standard-setting.
The IAIS Committee system
Under the direction of our members, the IAIS conducts activities through a committee system designed to achieve our mandate and objectives. The IAIS committee system is led by an Executive Committee whose 38 members come from different regions of the world, representing advanced economies, emerging markets and developing economies. The Executive Committee is supported by five Committees established in the by-laws:
- Audit and Risk Committee
- Budget Committee
- Implementation and Assessment Committee
- Macroprudential Committee
- Policy Development Committee
The committees may also establish subcommittees to help carry out their duties. Click here for an overview of the committees and subcommittees, including their leadership.
The IAIS Secretariat
The IAIS operates with the support of a Secretariat under the direction of a Secretary General. The IAIS is hosted by the Bank for International Settlements (BIS) in Basel, Switzerland.