It’s also a valuable part of the work of the FSB Standing Committees on Supervision and Regulatory Cooperation and Standards Implementation. FSB members tell me they appreciate the regular updates by IAIS Executive Committee chair Vicky Saporta. Our two organizations have worked together closely on addressing systemic risk related to insurance.
In particular, I appreciate the work of the IAIS to develop a Holistic Framework for the assessment and mitigation of systemic risk in the insurance sector. As I indicated a moment ago, I know that the IAIS is celebrating its twenty-fifth anniversary.