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Press Release - 20 May 2003

INTERNATIONAL INSURANCE REGULATORS TO MEET IN JERSEY

Jersey is to host for the first time an international meeting of the 'Offshore Group of Insurance Supervisors' (OGIS). Senator Frank Walker and Mr Colin Powell will be among those addressing international insurance regulators from offshore jurisdictions around the world at the OGIS Annual Working Meeting on 20-23 May.

Formed in 1993, OGIS is an association of offshore jurisdictions concerned with the regulation and supervision of international insurance business in offshore centres. The objects of the Group are to encourage the proper supervision of insurance business, to facilitate co-operation between offshore and onshore regulators worldwide, and to provide a forum whereby regulatory issues may be discussed.

OGIS works with the International Association Of Insurance Supervisors (IAIS), which encompasses supervisors from all jurisdictions and is the primary body responsible for setting international standards of insurance supervision. Jersey is a member of both OGIS and the IAIS.

Nigel Woodroffe, Director Insurance at the JFSC, is Deputy Chairman of OGIS. He said:

"The Financial Services Commission is delighted to welcome such a distinguished group of visitors and it is hoped that the meeting will be a great success."

For further information please contact:-

Nigel Woodroffe, Director, Insurance & Finance
Jersey Financial Services Commission

Tel: 00 44 1534 822015
Fax: 00 44 1534 822001
E-mail: n.woodroffe@jerseyfsc.org

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