Staff Writer
Strong accounting, auditing and disclosure standards are fundamental to building a resilient and trustworthy insurance sector, according to Namibia Financial Institutions Supervisory Authority (NAMFISA) chief executive officer, Kenneth Matomola, ahead of Namibia hosting a key international insurance supervisory meeting later this year.
Matomola made the remarks as NAMFISA announced it will host the International Association of Insurance Supervisors’ (IAIS) Accounting and Auditing Working Group (AAWG) meeting in Windhoek from 16 to 17 September 2026.
“By hosting the IAIS Accounting and Auditing Working Group, Namibia is helping to advance the dialogue on the future of insurance supervision while strengthening relationships that support policyholder protection and financial stability globally,” Matomola said.
The IAIS is the global standard-setting body responsible for developing principles, standards and guidance for the supervision of the insurance sector.
Its membership includes insurance supervisors from more than 200 jurisdictions, representing approximately 97% of global insurance premiums.
According to NAMFISA, the AAWG serves as the IAIS’ specialist forum on insurance accounting, auditing, valuation, financial reporting and disclosure matters.
It supports the development of internationally recognised supervisory principles and standards covering the accounting and auditing of insurers, valuation for solvency purposes, supervisory reporting, audit assurance and public disclosures.
The working group also engages with international accounting and auditing standard-setting bodies and monitors developments in financial reporting, valuation methodologies, auditing standards and insurer disclosures to ensure insurance supervisors remain informed of evolving global practices and emerging issues affecting the sector.
NAMFISA said hosting the meeting reflects the growing role of African insurance supervisors in shaping global insurance supervisory discussions and provides an opportunity to engage on emerging international developments affecting the industry.
The authority is represented on the AAWG by Louis Potgieter CA(Nam), a senior financial analyst in NAMFISA’s Insurance and Medical Aid Funds Division.
NAMFISA said it looks forward to welcoming international delegates to Windhoek for discussions aimed at strengthening insurance supervision and financial reporting practices globally.
The authority supervises financial institutions and financial services in Namibia and advises the minister of finance on matters relating to the sector.
Its oversight includes long-term and short-term insurers, asset managers, collective investment schemes, pension funds, medical aid funds, public accountants and auditors, stockbrokers, insurance brokers and agents, and microlenders.
