The Namibia Financial Services Supervisory Authority (Namfisa) has announced that Louis Potgieter, a Chartered Accountant and a Senior Financial Analyst within the Insurance and Medical Aid Funds Division, has been appointed to the International Association of Insurance Supervisors (IAIS) Accounting and Auditing Working Group (AAWG).
The AAWG is tasked with monitoring developments in international accounting, auditing, financial reporting, valuation standards and the public disclosures made by insurers. Additionally, the AAWG is responsible for developing and maintaining the IAIS’s high-level, principles-based supervisory materials related to accounting, auditing, valuation for solvency purposes, and reporting to supervisors. By joining this group, Louis Potgieter will be at the forefront of these developments and also contribute to the creation of supervisory materials designed to ensure the financial stability and resilience of the global insurance sector.
Kenneth S. Matomola, the CEO of NAMFISA and a member of the IAIS Executive Committee, expressed that this milestone represents a notable accomplishment for both the Authority and Namibia. “We take great pride in Louis’ inclusion in this international working group. This not only enhances our role within the global insurance regulatory framework but also highlights NAMFISA’s commitment to maintaining the highest standards in the supervision of non-banking financial services. I am optimistic that his involvement will yield substantial advantages for both NAMFISA and the wider IAIS community.” In extending congratulations to Louis Potgieter for this achievement, NAMFISA reaffirms its dedication to fostering initiatives that encourage international collaboration, harmonization, and the enhancement of the regulatory environment for the benefit of policyholders and insurers.
Established in 1994 and headquartered in Basel, Switzerland, the International Association of Insurance Supervisors (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.