Namfisa’s Matomola appointed to IAIS exco

The chief executive officer of the Namibia Financial Institutions Supervisory Authority (Namfisa), Kenneth Matomola, has been appointed as a member of the executive committee of the International Association of Insurance Supervisors (IAIS) during the annual general meeting held earlier this month in Cape Town, South Africa.

In accepting the exco role, Matomolo emphasised the importance of collaboration among regulators to overcome multifaceted challenges and harmonise regulatory frameworks, aligning with initiatives like the African Continental Free Trade Area (AfCFTA) for economic integration.

He added that the role of technological innovation in driving efficiencies and enhancing accessibility within the insurance landscape remains key.

He also stressed the importance of investing in human capital to address skills shortages and navigate current and emerging industry complexities effectively.

Matomola was also elected to the IAIS selection group, which will appoint the subcommittee chairs and vice chairs.



Global

IAIS is a global standard-setting body for insurance regulators and supervisors from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums.

Its mission is to promote effective and globally consistent supervision of the insurance industry to develop and maintain fair, safe and stable insurance markets for the benefit and protection of policyholders, as well as contribute to global financial stability.

IAIS was established in 1994 and is headquartered in Basel, Switzerland.

The role of the IAIS exco, among others, is to take all decisions necessary to achieve the mission of IAIS in accordance with the directions given by the general meeting.