The world's insurance associations have moved from relaxed co-operation to create a formal entity, the Global Federation of Insurance Associations (GFIA), which will speak for 87 percent of the $4.5tn life and non-life insurance industry.
Inaugural members include a host of North American bodies, including the American Insurance Association (AIA) and the Property Casualty Insurers Association of America, together with the European association Insurance Europe and UK trade bodies the Association of British Insurers and the International Underwriting Association.
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