Chair: Steven Kandarian, Chief Executive Officer MetLife
This committee, consisting of insurance and bank-affiliated insurance entities, is a senior level oversight group in charge of providing leadership and strategic guidance to the insurance-advocacy activities of the IIF and oversees the work of the insurance working group (IWG). This includes giving strategic guidance on topical issues which the IWG ought to address, approving its working program and major reports as well as playing a key role in promoting the IIF’s role in insurance. The Committee is composed exclusively of senior executives (Chairman / CEO / CFO or CRO) from IIF insurance member firms.
Insurance Working Group
The Insurance Working Group is in charge of dealing, from a technical perspective, with the insurance agenda of the Institute (i.e., regulatory Capital Requirements, Group Supervision, Systemic Risk, Recovery and Resolution as well as Risk Management and Governance Issues) under the oversight of the IRC. Participants include senior capital and risk managers, Heads of Government Affairs/Public Policy and regulatory experts. The various sub- and working groups often work with our colleagues at the Geneva Association (GA) to provide industry responses with truly global representation. The subgroups listed below feed their work into the IWG.
- Joint IIF / GA ICS Task Force
The Joint IIF/GA ICS Task Force develops industry views and provides technical input on the essential elements of the global Insurance Capital Standards (ICS) which are being developed by the IAIS as part of the Common Framework for the Supervision of Internationally Active Insurance Groups (IAIGs).
- Joint IIF / GA GSII-Methodology / NTNI Working Group
The Joint IIF/GA HLA Working Group develops industry views and provides technical input on the essential elements of IAIS consultation papers on both G-SII designation & de-designation and the constitution and appropriate treatment of non-traditional non insurance products.
- Joint IIF / GA RRP Working Group
The Joint IIF/GA HLA Working Group develops industry views and provides technical input on the essential elements of FSB consultation papers on critical functions and recovery and resolution planning for insurers.