The Centrale Bank van Aruba (CBA) hereby announces that it has become a member of the International Association of Insurance Supervisors (IAIS) Multilateral Memorandum of Understanding (MMoU) – a mechanism for enhancing international supervisory cooperation and information exchange between insurance supervisors.

As part of the application to become a member of the MMoU, Aruba’s supervisory framework was assessed. The accession to the IAIS MMoU confirms that the CBA meets the international standards and best practices in the field of supervising insurance companies. The International Association of Insurance Supervisors is a global standard-setting body whose objectives are 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 and to contribute to the maintenance of global financial stability. Its membership includes insurance supervisors from more than 200 jurisdictions.

The press release of the IAIS can be found here.