Insurance State Supervision Service of Georgia hosts Central, Eastern Europe and Transcaucasia (CEET) Regional Seminar
Insurance State Supervision Service of Georgia hosts Central, Eastern Europe and Transcaucasian (CEET) regional Seminar within the membership framework of International Association of Insurance Supervisors (IAIS) for the first time in Tbilisi, 5-6 of October.
According to ISSSG, the seminar was opened by Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, who emphasized the importance of holding the regional seminar of the International Association of Insurance Supervisors in Georgia. According to him, this is a recognition that our country is an active member of the international insurance community.
Chairman of Insurance State Supervision Service of Georgia addressed the participants of Central, Eastern Europe and Transcaucasia regional seminar of the International Association of Insurance Supervisors.
David Onoprishvili spoke about the challenges, achievements and future plans in the insurance sector. He also focused on the importance of the Insurance State Supervision Service as a supervisory body, its functions and duties.
IAIS is the insurance supervisory standards setting body, which consists of insurance supervisors and regulators from more than 158 jurisdictions, to which, in accordance with the Association Agreement between Georgia and the EU, the Georgian insurance system/legislation must be gradually adapted.
There are 37 representatives of 20 countries participating in the above-mentioned seminar, among them: insurance supervisory authority representatives of Central, Eastern Europe and Transcaucasia region from 10 countries (Albania, Armenia, Bulgaria, Poland, Slovakia, Slovenia, Azerbaijan, Ukraine and Montenegro); beyond the region withing the IAIS membership, insurance supervisory authorities from 7 countries (United Kingdom of Great Britain, Kingdom of Spain, Hashemite Kingdom of Jordan, South Africa, Malaysia and Kingdom of Thailand); as well as representatives from the industry, scientific-academic society, insurance experts and invited guests (Austria, Kingdom of Belgium, North Macedonia, Serbia, Federation of Bosnia-Herzegovina).
It should be noted that the seminar is attended by 7 high-ranking managers from the insurance state supervisory authority and a representative of the International Association of Insurance Supervisors. The Seminar shall have a particular focus on sharing the information and experience on Solvency II, sustainable development, environmental, social, and governance (ESG) issues, review CEET regional and IAIS priorities, Insurance Distribution Directive (IDD), IAIS Member assessment programme (MAP), cyber risks and digital transformation and its implementation strategy and other priorities in the regional context.
Annual meetings held within the framework of the regional committee are considered to be one of the important events and aims to discuss and share important issues within the regional framework among own members.