AGM in Mauritius

The Offshore Group of Insurance Supervisors (“the Group”) held its 12th Annual Working Meeting in Mauritius from April 25th to April 27th, 2005.

The Group formalized its strategies and objectives, which include:

• to enhance international recognition of the Group with relevant international bodies through representation and participation where appropriate;
• to facilitate appropriate training for members, observers and interested parties; and
• to act as a source of dissemination of information to and from a broad membership.

The International Representative of the Group provided the meeting with an extensive update of the on-going work of the various committees of the International Association of Insurance Supervisors.

The meeting also included a high-level one-day training programme which included a presentation on international life and pensions issues by Mel Carvill, Direttore Centrale, Head of Strategy and Corporate Finance, Assicurazioni Generali SpA. Mr Carvill has also been a Commissioner of the Guernsey Financial Services Commission for five years. The Group also dealt in detail with risk mapping of an insurance company, supervisory problems with insurance intermediaries, and catastrophe insurance regulation.

As part of the training strategy to enhance its professionalism the Group will conduct a three day, entry-level training programme in the British Virgin Islands in July 2005. This program will cater to supervisors with one to three years experience.

David Vick, Chairman of the Group, said “The 12th Working Meeting of the Group has been a very successful and productive meeting, including some very worthwhile discussions that will contribute to its future success”.