On October 9th, 2012, the Global Federation of Insurance Associations was formed. This association is inclusive of 31 different insurance associations, from countries around the world, who will work on a broad range of issues pertinent to the international insurance industry. GFIA will take positions on issues including the designation of firms that present risk to the world’s financial system and the development of a common framework, called ComFrame, for supervising insurers operating internationally.
U.S. insurers that are members of the GFIA include the American Insurance Association, the American Council of Life Insurers, America’s Health Insurance Plans, the Property Casualty Insurers Association of America and the Reinsurance Association of America.
The head of the association is Frank Swedlove, president of the Canadian Life and Health Insurance Association. Swedlove has worked for that group since 2007. He is a past president of the Financial Action Task Force, based out of Paris, which fights money laundering and terrorist financing, and led the Committee on Trade in Financial Services of the World Trade Organization.
Countries included in the association are Africa, Asia, Australia, Europe, North America and South America.