Structure

The GNAIE Board of Directors consists of one member representing each member company.  The board is the active face of the GNAIE.  Members meet frequently with members of standard-setter boards and other regulators, and serve on standard-setter industry liaison committees. The members of the GNAIE Board are the CFOs, CAOs or Controllers of our member companies.  The Board meets on a flexible schedule approximately once a month. 

There are also two working committees:

The Accounting Convergence Committee, with Subcommittees on IASB, FASB and Fair Value activities, analyses and responds to accounting standards proposals that potentially affect insurers.  The committee analyses proposed standards and the potential direction of standard-setters, proposes GNAIE policy to the board, conducts research into the impact of proposed standards and drafts communication with standard-setters.  The Committee is open to all members of the GNAIE.

The Solvency Committee is working on the GNAIE’s response to the EU Commission’s Solvency II initiative to harmonize the solvency regulation of EU member states, and the impact that these proposals will have on IAIS international standards and the standards of US state regulation.  The Committee is digesting the immense amount of material focused on this effort in the EU, and will propose GNAIE policy to the board, conduct research into the impact of proposed standards and draft communication with standard-setters.  The Committee is open to all members of the GNAIE.

The GNAIE will also form ad hoc support committees such as Legal or Budget, to address issues as they arise.