Craig Swan and Marcelo Ramella, two members of the Bermuda Monetary Authority senior management team, have been appointed as co-vice chairs for the new International Association of Insurance Supervisors (IAIS) committees.
The policy development committee (PDC) and macroprudential committee (MPC) were created as part of an IAIS restructure aimed at adapting to emerging needs in global regulation and supervision.
Swan, BMA managing director of supervision (insurance), will co-vice chair the PDC along with vice-chair Paolo Cadoni from the UK Prudential Regulation Authority.
BMA deputy director for financial security Ramella will co-vice the MPC alongside fellow co-vice chair Steven Seitz from the US Federal Insurance Office.
Jeremy Cox, BMA CEO, said: “Craig Swan and Marcelo Ramella’s contributions in working with the IAIS over the years have enabled the BMA to strengthen relationships with insurance supervisors from other countries, and maintain Bermuda’s active and ever critical participation in the development of global insurance standards.”
“Their contributions are highly-valued, and I commend them for their efforts and on their new appointments serving on top level committees.”
