Annual Conference of the International Association of Insurance Supervisors in Cape Town
On December 2-6, as part of the Annual Conference of the International Association of Insurance Supervisors (IAIS) in Cape Town, South Africa, 6 roundtable meetings were held with the involvement of various representatives of the insurance/financial sector, in a format of broad discussions. These discussions focused on broad-ranging topics, emphasizing the role of insurance in achieving and supporting the United Nations’ Sustainable Development Goals (SDGs). The main topics of the discussion were the role of insurance in achieving and supporting the UN Sustainable Development Goals (SDGs).
Deputy Chairman of the Insurance State Supervision Service of Georgia, Ekaterine Tsereteli, moderated a discussion on the topic “Non-Life Insurance and the Sustainable Development Goals” as a lead facilitator at the Association’s suggestion. The Head of the International Relations Division, Natia Kvachakhia, also participated in these discussions.
The discussions highlighted the significant role the insurance sector can play in achieving critical goals such as poverty alleviation, reducing social inequality, improving access to healthcare, promoting decent work, combating climate change, mitigating disaster risks and ensuring economic resilience. The Participants shared experiences in the above-mentioned direction, current challenges and future visions, discussed implemented and planned measures and exchanged recommendations on improving and accelerating coordinated efforts to meet the 2030 deadline for achieving global goals. The insights, recommendations, and directions identified during the discussions are expected to aid in identifying and addressing global challenges and providing support in these efforts. Particular importance in this direction is attributed to property and liability insurance (along with long-term life insurance).
The discussion underlined and reaffirmed Georgia’s and ISSSG’s active international engagement. It is worth noting that this area is extensively covered in the “Georgia Development Strategy – Vision 2030,” approved by the Government of Georgia, which emphasizes the role of insurance instruments and their impact on achieving long-term objectives.