The Association of Latin American Supervisors (ASSAL) held their annual meeting in Santiago, Chile this week. NAIC President and Wisconsin Insurance Commissioner Ted Nickel, NAIC President-Elect Julie Mix McPeak and NAIC CEO Mike Consedine led the NAIC delegation. Nickel's remarks focused on market conduct and McPeak discussed solvency regulation.
On the sidelines of the ASSAL meeting, the NAIC held meetings with a number of other jurisdictions from the region. The primary focus of these bilateral meetings was international standard setting issues at the International Association of Insurance Supervisors (IAIS) and the Organisation for Economic Co-operation and Development (OECD) as well as further cooperation between NAIC members and supervisors in Latin America.
NAIC engagement with the Latin American region is deepening as part of efforts to share best practices with other supervisory authorities. These meetings enhance regulatory cooperation and informs the supervision of internationally active insurance groups.