I think that you will agree with me on the need for effective supervisory collaboration, for enhanced transparency, for public disclosure, and for a dialogue with industry participants to ensure a well-designed regulatory regime that is effective and proportionate to the risks it addresses.
The good news is that, in the future, growing global markets will present new and potentially rewarding opportunities for insurance companies. Perhaps the not-so-good news is that the industry is also likely to face a multitude of challenges. The industry has made much progress in recent years.