The GFIA has 31 founding members from around the world.
The latest insurance news is now including the start of the Global Federation of Insurance Associations (GFIA) which includes 31 founding members from around the world and represents 87 percent of the worldwide industry business.
Among the founding members is the Insurance Council of Australia.
According to an insurance news statement made by Rob Whelan, the CEO of the council, “Insurance is very much a global business, and insurance industry associations face many of the same issues across the world, in particular the internationalization of regulations and financial standards.”
Many of the members making these headlines are proud and excited about this launch.
Whelan went on to say that his own council is a proud GFIA foundation member, and that he believes that this will offer the industry some highly needed cohesion in its presence regarding issues on a global, national, and regional scale.
The chair of the GFIA has also been announced, making insurance news around the world. This responsibility has been accepted by the newly elected Frank Swedlove, who is also the president of the Canadian Life and Health Insurance Association. He explained that he feels the launch of the group is “great news” for the industry, worldwide.
Swedlove explained that this new federation will provide the participating associations with the capability for responding quickly and effectively to issues of an international nature, which impact their own individual industries. He also pointed out that it will give them the chance to speak from a single voice. The inaugural chair went on to express his honor in accepting the position and to state that he will work to make certain that the voices and views of the industry will be heard.
Representatives from associations around the world each took the opportunity to make their own insurance news statements that praised the formation of the federation. Among the more notable statements included those made by the chairman of the executive committee of the International Association of Insurance Supervisors (IAIS), Peter Braumüller, as well as Governor Dirk Kempthorne, the president and CEO of the American Council of Life Insurers, who also chaired the GFIA’s inaugural meeting. That meeting was held in Washington, D.C.