Group of North American Insurance Enterprises
- Group of North American Insurance Enterprises
Formed in 2003, the Group of North American Insurance Enterprises (GNAIE) consists of the Chief Financial Officers of many of the leading North American insurance companies including life insurers, property and casualty insurers, and reinsurers. GNAIE members include companies who are the largest global providers of insurance and substantial multi-national corporations. All are major participants in the US markets.
The goals of GNAIE are to influence international accounting standards to ensure that they result in high quality standards for insurance companies and, to that end, to increase communication between insurers doing business in North America and the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB). In order to affect the course of regulatory adoption of international standards for insurers the GNAIE also works closely with the National Association of Insurance Commissioners (NAIC) and the International Association of Insurance Supervisors (IAIS) to provide industry insight and research to the regulatory process.
GNAIE works to meet its goals through modeling of proposed accounting standards, analysis, comment, and coordination with various end users of financial reports. Membership is open to entities licensed to provide insurance in the United States, Canada, Mexico and Bermuda.
The GNAIE has also formed a Solvency Committee to address financial statement and reporting issues raised by the EU Solvency II project, the IAIS Solvency Standards Project and the NAIC Principles-Based Reserving Project, where it is impacted by international standard-setting.
For more information see: [http://www.gnaie.net] insuranceaccounting.org
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