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The International Association of Insurance Supervisors (IAIS) is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions in nearly than 140 countries. In addition to its Members, more than 130 Observers representing international institutions, professional associations and insurance and reinsurance companies, as well as consultants and other professionals participate in IAIS activities.
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.
Established in 1994, the IAIS 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. The IAIS also provides a forum for Members and Observers to share their experiences and understanding of insurance supervision and insurance markets. In recognition of its collective expertise, the IAIS is routinely called upon by the G20 leaders and other international standard setting bodies.
Under the direction of its Members, the IAIS conducts activities through a Committee system designed to achieve its mandate and objectives. The IAIS Committee system is led by an Executive Committee whose members come from different regions of the world. It is supported by five Committees established by the By-Laws – the Audit and Risk, Budget, Financial Stability, Implementation, and Technical Committees – as well as by the Supervisory Forum. Committees may establish subcommittees or working parties to help carry out their duties.
The activities of the IAIS are supported by its Secretariat located in Basel and headed by a Secretary General.