BMA welcomes insurance delegates

The Bermuda Monetary Authority hosted the working group meeting of the Offshore Group of Insurance supervisors (OGIS) from May 11– 13.

Sixteen participants from 13 jurisdictions attended the annual forum, discussing issues relating to the supervision of international insurance business.

Shelby Weldon, BMA director of insurance, licencing and authorisations, said: “Meetings of this kind are an important part of fostering super-visory co-operation, which is key to effective financial regulation.”

The agenda included an update on global regulatory issues and the OGIS’s input to the work being conducted by the International Association of Insurance Supervisors’ committees on international regulatory standards.

There were also roundtable discussions about supervisory issues and country reports on significant jurisdictional regulatory developments.