IAIS Leadership
The IAIS delivers on its mission through a committee system made up of its members. The committee system is led by an Executive Committee (ExCo) whose 40 members come from around the world, representing advanced and developing insurance markets. The ExCo is supported by five committees established under its by-laws.
Executive Committee
The ExCo is the IAIS’ lead committee. It is responsible for providing overall strategic direction and managing IAIS affairs as specified in its by-laws. It appoints the Secretary General and takes all essential decisions for advancing the IAIS mission in accordance with the resolutions of the General Meeting of Members (which includes all IAIS members).
Shigeru Ariizumi
Chair, Executive Committee (Japan)
Executive Committee Chair
The Chair of the IAIS plays a key role in actively promoting the mission and activities of the IAIS in external forums and with stakeholders. The Chair:
- Is elected by the ExCo for a term of two years, which can be renewed
- Presides over both the ExCo meetings and General Meetings of Members
- Represents the views of the IAIS in discussion with other standard setters
- Chairs various groups established by the ExCo to support its duties. These groups include the Insurance Capital Standard and Comparability Task Force, which provides recommendation to ExCo in matters related to the development of the Insurance Capital Standard and the Aggregation Method comparability assessment; the Strategic Plan and Financial Outlook Task Force, which is developing the next five-year strategic plan for 2025-2029; and the Selection Group, which is responsible for making recommendations and certain appointments of Chairs and Vice Chairs of various substructures.
Petra Hielkema
Vice Chair, Executive Committee (EIOPA)
Vice Chair, Executive Committee (United States)
Vice Chair, Executive Committee (Morocco)
Parent committees
The ExCo is supported by the Audit and Risk Committee, Budget Committee, Implementation and Assessment Committee, Macroprudential Committee, and Policy Development Committee. Additional subcommittees (including working groups, task forces and forums) assist the IAIS to take forward its work programme.
See the full IAIS committee system organigram here.
Chair, Audit and Risk Committee (China, Hong Kong)
Audit and Risk Committee (ARC)
The ARC is responsible for reviewing the internal controls of the Association and monitoring that its activities achieve their objectives through effective and efficient operations and are compliant with applicable procedures and resolutions.
Chair, Budget Committee (United States)
Budget Committee (BC)
The BC is responsible for overseeing the financial position and financial management of the IAIS, monitoring the IAIS’ financial situation on a regular basis, making recommendations on annual fee and expenditure levels, recommending and reviewing the IAIS’ policies on investment and reserves, and reviewing proposals for significant unbudgeted expenditures.
Chair, Implementation and Assessment Committee (Austria)
Implementation and Assessment Committee (IAC)
The IAC supports Members in implementing IAIS supervisory material by assessing observance of IAIS standards, providing guidance on supervisory practices, promoting information exchange and supervisory cooperation, facilitating supervisory capacity building and promoting financial inclusion, in particular for EMDE jurisdictions.
The IAC is supported by nine groups:
• Financial Crime Forum
• Financial Inclusion Forum
• FinTech Forum
• Protection Gaps Task Force
• Retirement Income and Pension Forum
• Risk-based Solvency Implementation Forum
• Standards Assessment Working Group
• Supervisory Forum
• Signatories Working Group
Chair, Macroprudential Committee (Belgium)
Macroprudential Committee (MPC)
The MPC is responsible for steering and overseeing the financial stability work of the IAIS. The implementation of the Holistic Framework is one of the committee’s key projects, including the Global Monitoring Exercise and work aimed at supporting IAIS members in implementing the Holistic Framework.
In carrying out its mandate, the MPC is supported by two subcommittees:
• Macroprudential Monitoring Working Group
• Macroprudential Supervision Working Group
Chair, Policy Development Committee (United States)
Policy Development Committee (PDC)
The PDC oversees the development and review of supervisory and supporting material in collaboration with the other relevant committees.
In carrying out its mandate, the PDC is supported by seven subcommittees:
• Accounting and Auditing Working Group
• Capital, Solvency and Field Testing Working Group
• Governance Working Group
• Market Conduct Working Group
• Operational Resilience Working Group
• Resolution Working Group
• Supervisory Material Review Task Force
IAIS Secretariat
Secretary General
The IAIS operates with the support of a Secretariat under the direction of a Secretary General. The IAIS Secretariat is hosted by the Bank for International Settlements (BIS) in Basel, Switzerland. The Secretariat is the point of contact for IAIS members, committees, subcommittees and stakeholders and is responsible for the day-to-day functioning of the IAIS.
More specifically, the Secretariat:
- Supports the activities of the IAIS through its committees and subcommittees
- Ensures efficient communication amongst members and stakeholders
- Maintains and reinforces compliance with IAIS policies and procedures
- Facilitates cooperation with other institutions
- Manages the financial, material and human resources of the IAIS in a proper, effective and efficient way and in accordance with the authorised budget
- Carries out all other functions assigned by the ExCo
Learn more about the IAIS Secretariat here.