EIOPA and the U.S. National Association of Insurance Commissioners (NAIC), in collaboration with the International Center for Insurance Regulation (ICIR), has organised the international Conference on Transatlantic Insurance Group Supervision, which took take place at the Goethe University Frankfurt on September 7-8, 2011.
The objective of the conference was to foster the transatlantic dialogue between supervisors and leading professionals of the insurance industry on the subject of Transatlantic Insurance Group Supervision. It was intended to arrive at operational solutions through an in-depth discussion of the major issues in transatlantic group supervision in break-out sessions.
The supervisors presented current and emerging practices, as well as their views regarding group supervision and the challenges that transatlantic insurance groups pose to insurance supervisors.
The insurance company executives presented their views on the supervisory frameworks of the United States and Europe, the similarities and differences in group supervision as a result of operating in both jurisdictions, and where/how convergence in the supervisory approach would be beneficial to both supervisors and the insurance industry.