IAFI publishes principles on diversity, equity and inclusion

Diversity, equity and inclusion (DEI) are priorities for the global (re)insurance industry, and IAFI and its members are committed to encouraging and promoting them across the sector. With that in mind, IAFI has published a set of principles on DEI.

 

Various IAFI members are undertaking efforts to support DEI and financial education; to raise insurance penetration to help build developing economies; and to share best practices and resources with interested markets. Their initiatives are developed with specific national features in mind, such as the regulatory frameworks, demographics, legal systems and local consumer needs, which can all differ significantly between jurisdictions.

 

IAFI welcomes the commitment of the International Association of Insurance Supervisors (IAIS) to continue its work on DEI. IAFI stands ready to engage on this topic with the IAIS and other international organisations and standard-setters, such as the G20. IAFI recognises that, while financial inclusion and access to insurance have been a subject of considerable work by the IAIS and numerous other international organisations, the development of policy on DEI will necessitate broad consideration and consensus, at both national and international levels.

international association of financial insurance

IAFI was established at a meeting of insurance associations in Washington on 9 October 2012, to increase industry effectiveness in providing input to international regulatory bodies and to contribute more effectively to the international dialogue on issues of common interest. It had been preceded by an informal network, the International Network of Insurance Associations (INIA), which had been active since 2008. Through its 40 member associations and 1 observer association, IAFI represents the interests of insurers and reinsurers in 67 countries. These companies account for around 89% of total insurance premiums worldwide. IAFI is incorporated in Switzerland and its secretariat is based in Brussels.

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