The Global Federation of Insurance Associations has been established

Thirty-one insurance associations, accounting for 87% of the global market, met in Washington DC with a view to finalize the establishment of the Global Federation of Insurance Associations (GFIA). Frank Swedlove, head of the Canadian association, became the first chairman of the board of directors of the new institution. Many topics were on the agenda, especially systemic risks, oversight over insurance groups of international scale and anti-money laundering measures.