NOVEMBER 2018

p Delegates gather for the forum in Bariloche
ARGENTINA
Co-ops participate in first ever G20 Insurance Forum
Co-operatives helped to set the agenda
at the first G20 Insurance Forum, held in
Argentina in October.
Every year, the leaders of the world’s
largest economies gather to develop
strategies to deal with global challenges.
As this year’s host, Argentina decided to
hold a session on insurance – the first of
its kind at a G20 summit. It is hoped the
event will position the insurance sector,
including regulators and the industry,
as a distinct stakeholder in future
G20 events.
The forum, which ran from 25-26
September in Bariloche, was chaired by
Adrián Werthein, shareholder of Experta
ART, with four co-chairs including
Alejandro Simón, chief executive
of mutual insurer Sancor Seguros, a
member of the International Co-operative
and Mutual Insurers Federation (ICMIF).
ICMIF members Sancor Seguros, La
Segunda, San Cristóbal and ADIRA all
supported the project and helped to
host the forum. Also in attendance was
another ICMIF member, Rio Uruguay
Seguros. ICMIF chief executive, Shaun
Tarbuck, took part in the opening session
on building resilient economies, while
Graham Clark of Asia Affinity Holdings
Ltd (Hong Kong), also a member of ICMIF,
spoke in a session on food security.
The discussion focused on how the
insurance sector can support resilience
and stability by providing financial
protection to individuals and businesses.
“It is a historical milestone for
insurance supervision and the insurance
industry,” said Juan Pazo, superintendent
of Insurance of Argentina. “Argentina’s
G20 priorities are the future of work;
infrastructure for development; and food
security – issues directly connected with
the insurance industry.”
In a video message to welcome delegates,
Argentina’s president Mauricio Macri
said: “It is the task of this government
to create the right and adequate
conditions so that insurance companies,
as major long-term investors, can
finance projects in the real economy
and, in this way, directly benefit the
development of our country by generating
genuine employment.”
Also discussed were the promotion
of long-term investment in infrastructure;
building resilient communities;
digital and cybersecurity challenges
facing the insurance sector, and crossborder
reinsurance.
Speaking about the G20 Insurance
Forum, Mr Tarbuck said: “Here at ICMIF
we strongly believe in the role of insurance
to face global challenges, and we believe
that this Forum will be a historical
milestone for insurance supervision,
legislation and the insurance industry.
“Sustainable development, barriers for
long-term investment in infrastructure,
technological innovation, and financial
stability cannot be fully addressed
without the voice of the insurance sector.
The industry is a key stakeholder for
addressing many challenges, not only
through the development of innovative
products to improve economic resilience,
but also as a catalyst for resources towards
common goals.”
He added: “The overall objective was
to present the G20 leaders with the role
of insurers as solution providers to some
of the most pressing problems facing the
world today. We illustrated the important
role of insurance by showing concrete
ways how the insurance industry can
provide solutions based on sound
insurance principles.”
18 | NOVEMBER 2018