International Insurance Relations (G) Committee
March 30, 2008

The International Insurance Relations Committee met in Orlando, FL, and took the following actions:

• Received a report on the Joint Forum.

• Received a report on the February meetings of IAIS committees and subcommittees, including the work of the Financial Conglomerates Subcommittee on principles of group supervision. The NAIC’s secondee, Ryan Workman, also reported on his position as legal counsel to the association, and staff support for the Insurance Fraud and Reinsurance Subcommittees.

• Received reports from the regional vice-chairs for Europe, Asia, and Latin America.

• Received the report of the International Solvency and Accounting (E) Working Group, and agreed to establish a work plan for developing a comparative analysis of Europe’s Solvency 2 initiative and U.S. regulatory practices.

• Received reports on the OECD future work program, and the NAIC’s contribution to the discussions at the Financial Stability Forum meeting on March 28.

Action Items:

• Adopted the Report of the International Regulatory Cooperation Working Group.

• Adopted the Report of the NAFTA Working Group.