David Onoprishvili Participates in IAIS Executive Committee Meetings and Strategic Sessions in Basel
David Onoprishvili, Chairman of the Insurance State Supervision Service of Georgia is on an official visit to Basel, Switzerland, in his capacity as a member of the International Association of Insurance Supervisors (IAIS).
From June 29 to July 1st, David Onoprishvili joined the world’s leading insurance supervisors and regulators to participate in the working meetings and strategic sessions of the Association's core committees, held at the headquarters of the Bank for International Settlements (BIS). The discussions centered on the challenges facing the global insurance sector, key directions for supervisory policy development and the Association's future strategic priorities.
The agenda included reviewing reports from core IAIS committees, defining future projects and operational directions and discussing initiatives aimed at effectively responding to modern challenges within the insurance sector.
During the working sessions, particular emphasis was placed on the impact of technological progress on the insurance market, ensuring financial stability, improving crisis management mechanisms and strengthening the resilience of insurance companies against financial shocks.
One of the key strategic priorities highlighted during the meetings was enhancing the active engagement of emerging market economies in the development of international regulatory standards.
Within the framework of the event, Mr. Onoprishvili met with Toshiyuki Miyoshi, Chair of the IAIS Executive Committee and Vice Minister for International Affairs, Financial Services Agency of Japan. He also held bilateral meetings with representatives from various national supervisory authorities, including: Gorazd Čibej, Managing Director of the Insurance Supervision Agency of the Republic of Slovenia and IAIS Regional Coordinator for Central, Eastern Europe, and Transcaucasia; José Antonio Fernández de Pinto, General Director of Insurance and Pension Funds of Spain; Évelyne Massé, First Deputy Secretary General of the National Bank of France; and Julia Wiens, Chief Executive Director for Insurance and Pension Funds Supervision, German Federal Financial Supervisory Authority (BaFin). These meetings addressed ways to increase the involvement of countries of Emerging Markets and Developing Economies in the Association's activities, opportunities to deepen professional cooperation and implement future joint initiatives.
David Onoprishvili's participation in the IAIS Executive Committee provides Georgia with a direct voice in shaping global insurance standards. Adopting international best practices and Western experience within the Georgian insurance market will further contribute to strengthening the sector's sustainability, financial stability, and consumer protection.