Namfisa hosts IAIS regional seminar

Windhoek-The Namibia Financial Institutions Supervisory Authority (Namfisa), as an associate of the International Association of Insurance Supervisors (IAIS), will host Namibia's first cross-border insurance regulatory and supervisory regional seminar to delegates across Sub-Saharan Africa on Friday, October 20.

He seminar is jointly organised by the IAIS and Financial Stability Institute and officially commences today. The seminar is aimed at co-operation and sharing of supervisory experiences with fellow regulators of insurance and other non-banking financial services sectors in the region.

Themed 'Corporate Governance and Risk Management', the curriculum of the seminar is centred on the requirements of Insurance Core Principles (ICPs) and other international best practice principles in respect of the supervision of non-banking financial institutions on the subjects of enterprise risk management, corporate governance and supervisory intervention tools.

Established in 1994, IAIS is a voluntary membership organisation of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world's insurance premiums. Its mission is to promote effective and globally consistent supervision of the insurance industry to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders and to contribute to global financial stability.

Namfisa is honoured to have been selected as the facilitating body for this assignment. We look forward to engaging with our counterparts to share and obtain information from each other, more specifically, on how to harmonise and enhance Insurance regulatory frameworks to facilitate industry growth, access and to ensure consistent, effective supervision within the sub-Saharan African region, said Namfisa CEO Kenneth Matomola.

The participating countries are Botswana, Gambia, Ghana, Lesotho, Malawi, Mauritius, Namibia South Africa, Swaziland, Zambia and Zimbabwe.

Source: New Era Newspaper Namibia