The Insurance State Supervision Service of Georgia reported that its head, David Onoprishvili, participated in the International Association of Insurance Supervisors (IAIS) Executive Committee strategic working meeting in Zurich on June 18–19 as the Executive Committee member for the Central, Eastern Europe and Transcaucasia region. The meeting focused on the IAIS 2025–2026 strategic directions and action plan, including the methodology for transitioning to a risk-based solvency model and approaches to regulating AI oversight. Agenda items also included high-level principles such as the Insurance Capital Standard (ICS), fair treatment of customers, operational sustainability, and the impact of climate risks on the insurance sector. The second day was dedicated to refining IAIS strategic plans and discussing governance changes aimed at increasing the organization’s effectiveness in 2025–2029.
Insurance State Supervision Service of Georgia 2025-06-19
Insurance State Supervision Service of Georgia head attends IAIS Executive Committee meeting on 2025–2026 strategy, risk-based solvency and AI oversight
David Onoprishvili, head of the Insurance State Supervision Service of Georgia, attended the IAIS Executive Committee strategic meeting in Zurich, focusing on the 2025–2026 strategic directions and action plan. Key topics included transitioning to a risk-based solvency model, AI regulation, the Insurance Capital Standard, and climate risk impacts. Governance changes to enhance IAIS effectiveness for 2025–2029 were also discussed.