Friday | 23 Feb 2024

EMEA President Prof. Rym Ayadi participates in the 8th Conference on Global Insurance Supervision

EMEA President. Prof. Rym Ayadi, Professor at Bayes Business School, City University of London, Chair of the Banking Stakeholders Group (BSG) of the European Banking Authority (EBA), and Senior CEPS Advisor, participated at the 8th Conference on Global Insurance Supervision: Insurance Supervision in a World in Transformation.

The conference was organised by the International Center for Insurance Regulation (ICIR), the Leibniz Research Institute SAFE (Sustainable Architecture for Finance in Europe), and the European Insurance and Occupational Pensions Authority (EIOPA). The event was hosted by the Goethe University in Frankfurt, Germany, on 6 September 2023.

Prof. Ayadi participated at the panel “Catastrophe protection gaps: The role of insurance supervisors”, along with Jörg Asmussen, CEO, German Insurance Association (GDV), Satoshi Ikeda, Deputy Commissioner for International Affairs, Financial Services Agency of Japan, Ekhosuehi Iyahen, Secretary General, Insurance Development Forum (IDF), and Steven Seitz, Director, Federal Insurance Office, U.S. Department of Treasury. The discussion was moderated by Helmut Gruendl, Professor, Goethe University Frankfurt.

In her intervention Prof. Ayadi highlighted: “To best address the catastrophe protection gap, a multifaceted approach is essential, combining proactive risk assessment, investments in resilient infrastructure, stakeholders engagement, and the development of innovative financial instruments. Collaborative efforts between governments, the private sector, NGOs, and communities, bolstered by data collection, research and technology, can ensure comprehensive risk mitigation, enhance societal resilience, and make insurance more accessible and affordable, ultimately narrowing the protection gap in the face of evolving global challenges in particular climate risk.”

The Conference on Global Insurance Supervision brings together top representatives from major (re-)insurance groups, regulatory and supervisory authorities as well as renowned academics from around the globe to debate current and future topics of major importance to international insurance supervision, focusing on global trends in risk-based supervision linked to the implementation of global standards.

This year’s GIS conference aimed to explore key topics relating to insurance supervision in a changing world from a European and international insurance supervision perspective. The conference focused on the global shift to risk-based supervision, the role of insurance in closing protection gaps, and the impact of innovative business models on the future of insurance and its supervision.