Vice Chairman of the China Insurance Regulatory Commission (CIRC), Chen Wenhui, has been elected to represent emerging markets as the first Vice Chairman of the International Association of Insurance Supervisors’ (IAIS) Executive Committee.
Wenhui’s election represents recognition of achievements that have consolidated China’s leading role in the reform and construction of the global governance system that will enhance China’s influence in the international arena.
The election took place at the IAIS meeting in Basel, Switzerland, on 28th February, 2018.
The new Vice Chairman of the Executive Committee role will take active leadership in all IAIS work and strengthen cooperation among IAIS emerging market members to promote more consensus.
The role will enhance emerging market positions and governance in the international financial system, expanding the influence of emerging market members in international insurance affairs, influencing the formulation and implementation of international rules and safeguarding the core interests of emerging market members.
The IAIS is a voluntary membership organisation of insurance supervisors and regulators from over 200 jurisdictions, constituting 97% of the world’s insurance premiums.
Its mission is to promote effective and globally consistent supervision of the insurance industry.
