IAIS/OECD Insurance Supervisory Seminar for Asian Countries

Press release  | 
08 February 1999

1. Introduction

In the framework of recent Asian financial crisis, two international meetings dealing with the financial safety and soundness of insurance companies were held in Singapore on 1-4 February 1999: the IAIS (International Association of Insurance Supervisors) Seminar on Insurance Supervision and the OECD (Organisation for Economic Co-operation and Development) Conference on Insurance Regulation and Supervision in Asia. The IAIS seminar and the OECD policy dialogue aimed at promoting the strengthening of insurance regulatory and supervisory systems.

The meetings were hosted by the Monetary Authority of Singapore (MAS) and opened by Mr. Lim Hng Kiang, Minister for National Development and Second Minister for Finance, who called for greater regulatory co-operation and dialogue among Asian economies as well as advanced market countries and the international organisations. Other opening speakers were His Excellency Hashimoto, Ambassador of Japan and Mrs Conruyt, chairperson of the OECD Insurance Committee. These meetings benefited from funding contributions from the Government of Japan, MAS and the IIF (International Insurance Foundation).

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