assel[1]

 

ASEL

ASSOCIATION OF PORTUGUESE-SPEAKING INSURANCE SUPERVISORS

 

 

 

 

SECRETARIAT:

INSTITUTO DE SEGUROS DE PORTUGAL

AV. DE BERNA, 19 - 1050, LISBON - PORTUGAL

Telephone: + 351 21 7903100 * Fax: + 351 21 7954190

 

 

 

CONTACT IN MACAO

 

AUTORIDADE MONETÁRIA DE MACAU

CALÇADA DO GAIO, Nº 24 - 26, MACAO

Telephone: +853 568288 * Fax: +853 325433 * Telex: 88480 AMCRP OM

 

 

assel[1]

 

"ASEL Logo"

 

 

1.   NATURE

2.   OBJECTIVES

3.   CONFERENCES

4.   SUMMARY OF THE MINUTES

5.   INSURANCE ACTIVITY IN THE PORTUGUESE-SPEAKING COUNTRIES

6.   ACTIVITY AND MANAGEMENT OF PENSION FUNDS IN THE PORTUGUESE-SPEAKING COUNTRIES

 

Back to the top

 

 

 

1.   NATURE

 

      ASEL (formerly ASSEL) is a non-profit professional association, which brings together insurance supervisors and similar entities from jurisdictions that have Portuguese as their official language.

      The insurance regulators who signed the Deed of Constitution and the respective bylaws are the charter members of ASEL.

 

Back to the top

 

 

 

2.   OBJECTIVES

 

The statutory objectives of ASEL are:

-          To foster the exchange of information and experiences between its members and other similar organizations;

-          To promote the training of technical staff;

-          To contribute in the rendering of technical assistance between its members on a coordinated basis;

-          To support the development and methods of regulation and supervision of the insurance market and improve its efficacy, bearing in mind the protection of insureds and beneficiaries.

 

Back to the top

 

 

 

3.   CONFERENCES

 

-          The first conference took place at the Serralves Foundation in the city of Porto (Portugal), on 31 May and 01 June 1994, during which the Deed of Constitution was approved;

-          The second conference was held at the Polama Hotel, in the city of Maputo (Mozambique), on 17-19 August 1995, during which the Bylaws of ASEL were approved and initialled;

-          The third conference was held in Macao at the Hyatt Hotel, on 12-15 November 1996, which saw the participation of all the members of ASEL;

-          The fourth conference took place at the Cultural Centre of the Bank of Brazil, in Rio De Janeiro (Brazil), on 24-28 November1997;

-          The fifth conference was held only in 1999 in the Palácio da Assembleia da República, in the city of Praia (Cape Verde), on 15-17 November;

-          The sixth conference took place at the Miramar Hotel, in the city of S. Tomé (S. Tomé and Príncipe), on 08-10 November 2000;

-          The seventh conference took place in Macao after a gap of one year, and was held at the Ritz Hotel on 10-13 June 2002;

-          The eighth conference was held in Angola, at Hotel Trópico, on 04-08 October 2003.

 

 

Back to the top

 

 

 

4.   SUMMARY OF THE MINUTES

 

1st Conference (Portugal)

(31.05.1994 to 01.06.1994)

 

¡P    Supervisory authorities present at the conference: Cape Verde, Guinea-Bissau, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Unanimously approved the revision of the bylaws of ASEL ¡V ¡§Associação de Supervisores de Seguros Lusófonos¡¨ (which replaced AASSEP ¡V ¡§Associação das Autoridades de Supervisão de Seguros de Expressão Portuguesa¡¨);

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

MANAGEMENT BOARD

 

President - Portugal

1st Member - Cape Verde

2nd Member - Mozambique

 

 

AUDIT COMMITTEE

 

President - Macao

1st Member - Guinea-Bissau

2nd Member - Angola

 

¡P    Establishment of a minimum obligatory membership fee of USD 500,00 (five hundred US dollars);

¡P    Presentations on the development of insurance activity in their respective countries by representatives from the Portuguese-speaking countries present at the conference;

¡P    Presentation by representatives from the Association of Portuguese Insurers (APS) on training and development, the existing ties between APS and international training centres and the strengthening of cooperation between the APS, via CEFOS (Centro de Formação de Seguros), and the insurance supervisory authorities from Portuguese-speaking countries;

¡P   It was approved to draw up a charter of principles for the insurance activity in Portuguese-speaking countries, an insurance code for the Portuguese-speaking countries, a comparative study on the models of supervision for the financial sector and the promotion of multilateral training programs.

 

 

2nd Conference (Mozambique)

(17.08.1995 to 19.08.1995)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Presentations on the development of insurance activity in their respective countries by representatives from the Portuguese-speaking countries present at the conference;

¡P    Minutes of the meeting of the1st Conference were unanimously approved;

¡P    Bylaws of ASEL were formally signed following the introduction of an alteration to make the payment of membership fees optional;

¡P    Annual accounts of prior years and for the year 1995 were unanimously approved;

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

MANAGEMENT BOARD

 

President - Mozambique

1st Member - Portugal

2nd Member - Macao

 

 

AUDIT COMMITTEE

 

President - Brazil

1st Member - Angola

2nd Member - Cape Verde

 

 

¡P    Approved a vote of praise in favour of the past President, Mr. José Braz, for the work done during his term in office;

¡P    Determined that the Secretariat, run by the Insurance Regulatory Authority of Portugal, would carry out the following tasks:

 

-     Provide continuity to the task of completing the ¡§Insurance Dictionary¡¨ and the ¡§Charter of Principles¡¨ (the relevant documents pertaining to these projects were presented during the conference);

-     Study the reinsurance systems of various countries and consider different possible means to motivate private operators to set up (eventually) a reinsurance company in the Portuguese-speaking world;

-     Conduct a comparative study on the market-access conditions prevailing in different jurisdictions, which would be useful in drawing up necessary measures to facilitate the access to Portuguese-speaking markets for companies from member countries of ASEL;

-     Distribute the Portuguese chart of accounts and promote an exchange of views on the charts of accounts of the remaining member countries.

¡P    Approved a recommendation proposing that governments of member countries of ASEL establish appropriate rules of market access and operation of insurance activity, including the setting up of regulatory authorities that are best suited for the development of each market.

 

 

3rd Conference (Macao)

(12.11.1996 to 15.11.1996)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Guinea-Bissau, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Minutes of the meeting of the 2nd Conference were unanimously approved;

¡P    Annual accounts for the year 1996 were unanimously approved;

¡P    Discussed and unanimously agreed to maintain the financing of ASEL on the basis of voluntary payment of membership fees, without prejudice to member countries making extraordinary or indirect contributions;

¡P    Regarding the  "Insurance Dictionary", it was resolved to add an annex containing international terminology on insurance, with member countries requested to submit contributions;

¡P    Regarding the  ¡§Comparative study on market-access conditions for insurance activity¡¨, it was unanimously agreed that the same should be updated systematically, and each supervisory authority should endeavour to communicate to the Secretariat on any amendments to their respective legislation;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Member countries present unanimously subscribed to the ¡§Charter of Principles¡¨, with the formal approval postponed to a more opportune moment;

¡P    Presentation made on the topic of ¡§Derivative Markets - The management of risks through futures, options and swaps¡¨;

¡P    Presentation made on the topic of ¡§Professional training¡¨ by the Portuguese Association of Insurers;

¡P    Debate on ¡§The role of supervision in the process of liberalisation of the insurance activity¡¨;

¡P    Presentations made on the following topics: ¡§Regulation on solvency margin in the European Union¡¨ and ¡§Insurance fraud¡¨;

¡P    Voted in favour that Macao would retain its membership in ASEL after the transfer of sovereignty in 1999;

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

MANAGEMENT BOARD

 

President - Macao

1st Member - Mozambique

2nd Member - Brazil

 

 

AUDIT COMMITTEE

 

President - São Tomé and Príncipe

1st Member - Portugal

2nd Member - Angola

 

 

4th Conference (Brazil)

(24.11.1997 to 28.11.1997)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Minutes of the meeting of the 3rd Conference were unanimously approved;

¡P    Annual accounts for the year 1997 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations made on the following topics: ¡§Protection against occupational accidents in Portugal¡¨, ¡§Pension funds in Portugal¡¨, ¡§Modern Supervision - New problems and new challenges¡¨, ¡§Mechanisms for continuous supervision of insurance market¡¨, ¡§Compulsory Motor Vehicle Third Party Liability Insurance: An alternative for the DPVAT¡¨, ¡§Models of private provident schemes: Perspectives for development¡¨, ¡§Forms of private health insurance - Its integration with the public health system¡¨, ¡§Employees¡¦ Compensation Insurance - Its institutional future¡¨, ¡§The opening of the Brazilian reinsurance market¡¨, ¡§APS - Project Euro: Transition  to the single currency¡¨ (handled by the representatives of the Portuguese Association of Insurers) and ¡§The opening of the Brazilian insurance market - Perspectives of development of life insurance and provident schemes¡¨;

¡P   Discussed the possibility of transforming ASEL into an international association with proper legal personality, having determined that the Secretariat of ASEL would send to the member countries a draft of the Power of Attorney to be used for such purpose;

¡P    It was agreed that the representative of Cape Verde would contact the World Bank to inquire whether ASEL, as an international association, could obtain sponsorship to conduct training courses; it was also deliberated to assess the credit facilities offered by the World Bank for the organisation of public sector insurance, or by other international financial institutions, as well as the models of the projects to be developed;

¡P    Seminar held on ¡§The insurance system - Government and market operators solving social issues¡¨;

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President - Brazil

1st Member - Macao

2nd Member - Angola

 

 

AUDIT COMMITTEE

 

President - Portugal

1st Member - Mozambique

2nd Member - Cape Verde

 

 

5th Conference (Cape Verde)

(15.11.1999 to 17.11.1999)

 

¡P    Supervisory authorities present at the conference: Brazil, Cape Verde, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Minutes of the meeting of the 4th Conference were unanimously approved;

¡P    Annual accounts for the years 1998 and 1999 were unanimously approved;

¡P    The financial investment proposal in respect of the surplus in the accounts of ASEL (amounting to ten thousand US dollars) was unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations made on the following topics: ¡§Importance of pension funds and its management risks¡¨, ¡§Consequences of retirement reform in the private retirement market¡¨ and a roundtable discussion held on the topics of, ¡§The importance of insurance intermediary business in the member countries of ASEL¡¨ and ¡§Proposals to develop a training program by the members of ASEL¡¨;

¡P    Speeches made on the following topics: ¡§Offshore Financial Centres - The experience of Macao¡¨, ¡§Aviation insurance - Catastrophic risks in small markets¡¨ and ¡§Third party liability insurance: an obligation, a necessity¡¨;

¡P    Signed an Agreement of Cooperation and Technical Assistance between the Monetary Authority of Macao and the Bank of Cape Verde;

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Cape Verde

1st Member - Brazil

2nd Member ¡V S. Tomé and Príncipe

 

 

AUDIT COMMITTEE

 

President - Mozambique

1st Member - Portugal

2nd Member - Angola

 

 

6th Conference (São Tomé and Príncipe)

(08.11.2000 to 10.11.2000)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Minutes of the meeting of the 5th Conference were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Discussion on the following topics: ¡§The sharing of risks and insurance¡¨ and ¡§Motor Vehicle Guarantee Fund as the corollary of compulsory motor vehicle third party liability insurance¡¨;

¡P    Approved the text of the letter to be sent to the President of the National Resistance Council of Timor;

¡P    Election of members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V São Tomé and Príncipe

1st Member ¡V Cape Verde

2nd Member ¡V Angola

 

 

AUDIT COMMITTEE

 

President - Macao

1st Member - Brasil

2nd Member - Portugal

 

 

7th Conference (Macao)

(10.06.2002 to 12.06.2002)

 

¡P    Supervisory authorities present at the conference: Angola, Cape Verde, Macao, Mozambique, Portugal, São Tomé and Príncipe and East Timor (as observer);

¡P    Minutes of the meeting of the 6th Conference were unanimously approved;

¡P    Annual accounts for the year 2001 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations on the following subjects: ¡§The social security crisis, plan for financing the reform - New systems¡¨, ¡§Money laundering in insurance activity¡¨, ¡§Employees¡¦ Compensation Insurance¡¨ and ¡§Supervision of private pension funds¡¨ and a roundtable discussion on  ¡§Insurance intermediary activity under different systems¡¨;

¡P    Luncheon speech on 12th June on ¡§Terrorism and Insurance activity¡¨, by Mr. Rui Leão Martinho, Chairman of the Board of Directors of the Insurance Regulatory Authority of Portugal;

¡P    On the third day of the conference, the delegates visited the Head Office of AMCM and also witnessed the signing of a deed of constitution of a closed pension fund between Banco Nacional Ultramarino and Companhia de Seguros Fidelidade, as well as the corresponding management contract;

¡P    During the final session of the conference, a number of decisions were taken, namely:

 

-          To contact the insurance supervision entity of Guinea-Bissau and promote participation of its representatives in future meetings;

-          To constitute committees in order to study or analyse specific situations, or to request the members of the association to handle these cases on an individual basis;

-          To update the comparative study on the market-access conditions prevailing in different member jurisdictions, being the Secretariat responsible for this task;

-          To invite specialists on different topics at future conferences;

-          To update the homepage of the association on a timely basis, with Macao being responsible for this task;

-          To make known to the Community of Portuguese-Speaking Countries (CPLP) of the existence of ASEL, being the country with the new presidency responsible for this task;

-          To recommend the members of ASEL to encourage technical staff of the jurisdiction hosting the conference to participate in the meeting;

-          To contact the OECD, through the Secretariat of ASEL, in order to:

a)      Ensure regular technical support from this organisation in the activities of the members of ASEL and to study the possibility of the association, after it is duly legalised, to benefit from its contact with other international associations of supervisors;

b)      Obtain, whenever possible, support of this organisation in disseminating technical information during the realisation of annual conferences of ASEL;

-          To elect Portugal to continue to act as the Secretariat of ASEL; and

-          To elect members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Macao

1st Member ¡V S. Tomé and Príncipe

2nd Member ¡V Angola

 

 

AUDIT COMMITTEE

 

President - Mozambique

1st Member ¡V Cape Verde

2nd Member - Brazil

 

 

8th Conference (Angola)

(04.10.2004 to 06.10.2004)

 

¡P    Supervisory authorities present at the conference: Angola, Cape Verde, Macao, Mozambique, Portugal, São Tomé and Príncipe and East Timor;

¡P    Minutes of the meeting of the 7th Conference were unanimously approved;

¡P    Annual accounts for the year 2003 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations on the following subjects: ¡§Scope of compulsory motor vehicle third party liability insurance¡¨, ¡§Money laundering in insurance and pension funds¡¨, ¡§Insurance fraud¡¨, ¡§Need for professional training in insurance¡¨, ¡§Perspectives of development of insurance in Angola¡¨, ¡§Impact of the complementary reform on the life of old combatants and veterans of the Nation¡¨, ¡§Perspectives of pension fund development in Angola¡¨ and ¡§Investment policy in the insurance sector¡¨;

¡P    During the final session of the conference, a number of decisions were taken, namely:

 

-          To congratulate the participation of East Timor and to make efforts for the early return of Guinea-Bissau to ASEL;

-          To express gratitude to the Association of Portuguese Insurers for their contribution in making the presentation on ¡§Scope of Compulsory Motor Vehicle Third Party Liability Insurance¡¨;

-          To raise awareness about the inherent problems associated with money laundering in insurance activity, as well as the issues relating to insurance fraud;

-          To take note of the development of insurance and pension fund activity in the Angola market and its prospects in the near future;

-          To stress the importance of investment policy in the insurance sector;

-          To entrust the Secretariat of ASEL with the task of widening the comparative study on the market-access conditions prevailing in different member jurisdictions in relation to insurance activity and pension fund management business;

-          To inform the Community of Portuguese-Speaking Countries (CPLP) about the existence and activities of ASEL;

-          To increase the level of cooperation of the members of ASEL through exchange of experiences, by setting up committees or on individual basis;

-          To hold the 2nd General Assembly and the 9th Conference in Mozambique on the date as determined in due course;

-          To elect Portugal to continue to act as the Secretariat of ASEL; and

-          To elect members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Angola

1st Member ¡V Macao

2nd Member ¡V Mozambique

 

 

AUDIT COMMITTEE

 

President ¡V Cape Verde

1st Member ¡V Timor-Leste

2nd Member ¡V São Tomé and Príncipe

 

 

9th Conference (Mozambique)

(03.10.2005 to 06.10.2005)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal, São Tomé and Príncipe and East Timor;

¡P    Minutes of the meeting of the 8th Conference were unanimously approved;

¡P    Annual accounts for the year 2004 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations on the following subjects: ¡§Corporate governance¡¨, ¡§Risk-based supervision and corporate governance¡¨, ¡§Money laundering¡¨, ¡§Insurance fraud¡¨, ¡§Accounting of insurance contracts¡¨, ¡§Customer service¡¨, ¡§Occupational accidents and occupational diseases¡¨, ¡§Operations of capitalisation in life insurance¡¨ and ¡§Motor Vehicle Guarantee Fund - Cabo Verde experience¡¨;

¡P    During the final session of the conference, a number of decisions were taken, namely:

-          To congratulate the Inspecção Geral de Seguros of Mozambique for the excellent organisation of the event and also the speakers for the quality of their presentations;

-          To take note of the development of the insurance sector in each member jurisdiction and congratulate, in particular, East Timor for the dynamism shown with the introduction of the legislation which establishes the conditions for the carrying on of insurance activity;

-          To express gratitude to the Mozambique Insurers¡¦ Association for their presentations on operations of capitalisation in life insurance and on occupational accidents and occupational diseases;

-          To raise the awareness of member jurisdictions about the need to adopt international norms, like that of accounting (IAS/IFRS), within the scope of insurance supervision;

-          To highlight the importance of the application of corporate governance principles to insurance companies in various situations;

-          To continue the exchange activities and frank cooperation between member jurisdictions of ASEL and to promote, if possible, specific training programs for its members with eventual assistance from external entities;

-          To maintain the logo of ASEL, as was presented during the 8th Conference of the Association, until such time a member presents a new proposal for its alteration;

-          To hold the 3rd General Assembly and the 10th Conference in Brazil on the date as determined in due course, and thereafter in jurisdictions according to their alphabetical order; and

-          To elect members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Mozambique

1st Member ¡V Angola

2nd Member ¡V Brazil

 

 

AUDIT COMMITTEE

 

President ¡V Macao

1st Member ¡V Cape Verde

2nd Member ¡V East Timor

 

 

10th Conference (Brazil)

(07.11.2006 to 10.11.2006)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal, São Tomé and Príncipe and East Timor;

¡P    Minutes of the meeting of the 9th Conference were unanimously approved;

¡P    Annual accounts for the year 2005 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations on the following subjects: ¡§Organisation of a regulatory authority¡¨, ¡§Risk-based supervision¡¨, ¡§Management of information of supervised markets: Project of Single Standard Databank¡¨, ¡§Solvency Project of SUSEP¡¨, ¡§System to combat fraud¡¨, ¡§Role of the National Foundation for Insurance Studies¡¨, ¡§Insurance against personal accident caused by road vehicles¡¨, ¡§Microinsurance¡¨, ¡§Bancassurance¡¨, ¡§International activities of the NAIC¡¨ and ¡§Insurance regulation in America¡¨;

¡P    During the final session of the conference, a number of decisions were taken, namely:

-          To mandate the Insurance Regulatory Authority of Portugal, while being the Secretariat of ASEL, to act as it¡¦s fiscal representative in all the acts in which the Association is required to intervene;

-          To take note of the development of the insurance sector in each member jurisdiction;

-          To express satisfaction for the fact that East Timor had approved the legislation relating to the carrying on of insurance activity in the country. To demonstrate to its representatives present at the meeting ASEL¡¦s enormous sorrow for the political situation currently prevailing in the country and to express on behalf of all its members total solidarity with and support for our brother country;

-          To update, through the Secretariat of ASEL, the comparative study on the market-access conditions prevailing in different member jurisdictions in relation to insurance activity and pension fund management business;

-          To hold the next Conference in Cape Verde, and in Macao in the following year;

-          To highlight the role insurance supervisory authorities ought to play, within the framework of the Recommendations of FATF, in relation to the prevention and combating of money laundering and the financing of terrorism in insurance activity, by issuing appropriate guidelines for the sector and, in partnership with the operators, carrying out professional training programs;

-          To applaud the extremely warm reception in Rio de Janeiro given to the delegates by the Conference Organising Committee, as well as for the efficient organisation of the 3rd General Assembly and the 10th Conference of ASEL by SUSEP, namely the agenda and the topics selected; and

-          To elect members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Brazil

1st Member ¡V Mozambique

2nd Member ¡V Cape Verde

 

 

AUDIT COMMITTEE

 

President ¡V Macao

1st Member ¡V Angola

2nd Member ¡V São Tomé and Príncipe

 

 

11th Conference (Cape Verde)

(13.11.2007 to 15.11.2007)

 

¡P    Supervisory authorities present at the conference: Angola, Brazil, Cape Verde, Macao, Mozambique, Portugal and São Tomé and Príncipe;

¡P    Minutes of the meeting of the 3rd General Assembly and of the 10th Conference were unanimously approved;

¡P    Annual accounts for the year 2007 were unanimously approved;

¡P    Presentations on the development of insurance activity in their respective jurisdictions by representatives from member countries present at the conference;

¡P    Presentations on the following subjects: ¡§Core Principles of Insurance Supervision¡¨, ¡§Modernization of insurance laws in Cape Verde¡¨, ¡§Solvency II¡¨, ¡§Market-access conditions prevailing in Portuguese-speaking jurisdictions in relation to insurance activity and pension fund management business¡¨, ¡§Insurance Sector ¡V Challenges and Opportunities¡¨, ¡§Road Safety¡¨, ¡§International Accounting Standards for the Insurance Sector ¡V IAIS/IFRS¡¨, ¡§Microinsurance¡¨ and ¡§Fraud and Money Laundering in Insurance¡¨;

¡P    During the final session of the conference, a number of decisions were taken, namely:

-          To place on record the success of the 4th General Assembly and the 11th Conference of ASEL;

-          To thank the participation of the Principal Administrator of IAIS in the Conference;

-          To make efforts to enhance the means of cooperation with IAIS and other international organisations, namely OECD;

-          To take necessary measures in order to promote the return of Guinea Bissau to ASEL;

-          To strengthen cooperation activities between the members of ASEL and international institutions for the purpose of prevention and combating of money laundering and the financing of terrorism in insurance activity;

-          To promote technical cooperation among members of ASEL through specific MoU¡¦s;  

-          To take note of the positive development of the insurance sector in each member jurisdiction of ASEL;

-          To express great satisfaction for the cordial and congenial manner in which His Excellency, the President of the Republic of Cape Verde received the delegation of ASEL; and

-          To applaud the extremely congenial and warm reception in the city of Praia accorded to the delegates by the Organising Committee, as well as for the efficient organisation of the 4th General Assembly and the 11th Conference of ASEL by BCV, namely the agenda and the topics selected.

¡P    It was further decided:

-     To hold the next Conference in Macao in 2008 and, in the following year, in Portugal; and

-          To elect members to the Management Board and the Audit Committee, as follows:

 

 

MANAGEMENT BOARD

 

President ¡V Cape Verde

1st Member ¡V Brazil

2nd Member ¡V Macao

 

 

AUDIT COMMITTEE

 

President ¡V Mozambique

1st Member ¡V São Tomé and Príncipe

2nd Member ¡V Angola

 

 

 

Back to the top

 

 

 

5.   INSURANCE ACTIVITY IN THE PORTUGUESE-SPEAKING COUNTRIES

[Adobe pdf]

 

Back to the top

 

 

 

6.   PENSION FUND MANAGEMENT ACTIVITY IN THE PORTUGUESE-SPEAKING COUNTRIES

 

      [Adobe pdf]

 

Back to the top