In his meeting with Yoshihiro Kawai, IAIS Secretary General and Michel Flamée, IAIS Acting Chair Executive Committee, Mr Knott extended his welcome to the 200 international insurance regulators and supervisors from over 50 countries around the World who have arrived in Dubai as part of the IAIS' Tri-annual meetings.
The meetings are being hosted by the DFSA and will discuss regulatory issues of importance to the insurance sector, including micro-insurance and insurance fraud.
At the meetings, a Corporate Governance Task Force will be convened to establish a broad corporate governance framework for insurers to allow work on solvency assessment, reinsurance and other matters.
The adoption of a multilateral memorandum of understanding for the sharing of information between insurance supervisors will also be presented and discussed.
While the meetings are working sessions, during which business issues and standards are discussed, the participants will enjoy evening events which will allow them to experience Dubai and its culture.
Mr Knott commented: 'We are delighted to host the IAIS Tri-annual meetings and to welcome regulators and observers from over 50 countries.
Our engagements with international standards bodies such as the IAIS are a clear demonstration of our commitment to the development, administration and enforcement of world class regulation while allowing the DFSA to showcase Dubai.'
DFSA welcomes leading insurance regulators to Dubai
Mr David Knott, Chief Executive of the DFSA, met with leading figures from the International Association of Insurance Supervisors (IAIS) to discuss industry developments and progress.
- United Arab Emirates: Wednesday, February 14 - 2007 at 08:23
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For further information, please contact:John Gilchrist
Dubai Financial Services Authority
Level 13, The Gate
Tel: +971 (0) 4 362 1662
Fax: +971 (0)4 362 0801
Angharad Irving-Jones / Fayrouz Adi
Dubai Financial Services Authority
Level 13, The Gate
Tel: +971 (0) 4 362 1662
Fax: +971 (0)4 362 0801
The Dubai Financial Services Authority (DFSA) is an independent, integrated regulatory authority responsible for the regulation of all financial and ancillary services conducted in or from the Dubai International Financial Centre (DIFC), including asset management, banking, securities trading, Islamic finance, re-insurance, and an international financial exchange. The DFSA has been created using principle-based primary legislation modelled closely on that used in London and New York, and the DFSA regulatory regime operates to standards that meet or exceed those applying in the world's major financial centres.
The Dubai Financial Services Authority (DFSA) is a central component of the DIFC, a new financial centre established to position Dubai as a recognised hub for institutional finance, and the regional gateway for capital and investment to the Middle East.
Mr. David Knott was appointed Chief Executive of the DFSA on June 1, 2005. He is a former Chairman of the Australian Securities and Investment Commission and was Chairman of the Technical Committee of the International Organisation of Securities Commissions (IOSCO).
The IAIS was established in 1994 and represents the insurance regulators and supervisors of some 180 jurisdictions in more than 130 countries, constituting 97% of the world's insurance premiums. It also has more than 100 observers.
Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, February 14 - 2007 at 08:23 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This Article was updated on Monday, April 09 - 2007
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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