Africa-Press – Angola. The improvement of market conduct and consumer justice in the Southern Region of the continent were the main aspects addressed at the Regional Seminar of the International Association of Insurance Supervisors (IAIS), which Luanda hosted from 28 April until Friday, under the auspices of the Angolan Insurance Regulation and Supervision Agency (ARSEG).
Executive Committee member Kenneth Matomola said at the closing that the event had provided an opportunity to reflect on the dynamics of technical dialogue, inter-jurisdictional exchange, and deep engagement between regulators and the insurance industry on the continent. The CEO of the Namibia Financial Institutions Supervisory Authority (NAMFISA) also called for the urgent need to expand inclusive insurance to underserved communities, strengthen risk-based supervision through capacity building, address climate protection gaps, and phase out reinsurance. Representatives from 14 institutions advocated for the implementation of the International Financial Reporting Standard (IFRS 17), continued industry supervision, promotion of financial literacy through joint efforts, and investment in reliable data systems to inform regulation and pricing. Kenneth Matomola also stressed the importance of regulatory harmonisation and innovation within the African Continental Free Trade Area (AfCFTA), as well as frequent collaboration across borders. “Our role as regulators and industry leaders is to ensure that this promise is affordable, meaningful and resilient in the face of growing challenges.”
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