Global Regulatory Update

Institute of International Finance
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Hosted by the IIF’s Regulatory Affairs department, this podcast series features interviews with regulators, thought leaders, and executives shaping today's regulatory environment.

  1. Sep 24

    Insurance at an Inflection Point: Fragmentation, Transition, and the New CapEx Supercycle

    In this episode of the IIF Global Regulatory Update podcast, host Philippe Brahin, Head of Insurance and NBFI at the Institute of International Finance (IIF), speaks with Jérôme Haegeli, Group Chief Economist of Swiss Re and Head of the Swiss Re Institute, about the latest outlook for the global insurance sector and the implications of a rapidly changing risk landscape. Fresh from the Monte Carlo Rendez-Vous, Jérôme discusses the mood across global insurance and reinsurance markets and reflects on the findings of two recent sigma reports: World Insurance 2026 and Time to Build, Swiss Re Institute’s analysis of the emerging global capital expenditure supercycle. The conversation examines how insurers are adapting to shifting market dynamics, geopolitical fragmentation, and emerging sources of risk.  The conversation examines why Swiss Re views 2026 as an inflection point for the insurance industry. While pricing conditions and premium growth are normalizing after several strong years, Jérôme argues that deeper structural forces are reshaping the sector, including geopolitical fragmentation, supply-chain disruption, AI adoption, energy security concerns, climate risks, and a new wave of infrastructure investment. Drawing on findings from the sigma reports, he explains how insurance serves as a critical shock absorber in the global economy and why preserving open capital markets and cross-border diversification remains essential to maintaining affordable and effective risk transfer. The conversation also considers the implications of fragmentation and regulatory divergence for global reinsurance markets and financial resilience. The episode further explores Swiss Re Institute’s thesis that the world is entering a capex supercycle, driven by investment in AI infrastructure, data centers, energy systems, and industrial transformation. Jérôme discusses how these trends are changing the nature of risk accumulation, creating new dependencies across networks, cloud infrastructure, energy grids, and digital ecosystems. He explains why insurability, rather than capital availability, may be the key constraint in supporting future growth, and what insurers, reinsurers, supervisors, and policymakers should take away from these developments. The episode concludes with a forward-looking assessment of how AI, infrastructure investment, and evolving systemic risks could shape the insurance sector in the years ahead.

  2. Sep 15

    Global Aging, Retirement Security, and the Promise of Lifetime Income

    In this episode of the Global Regulatory Update podcast, host Philippe Brahin, Head of Insurance and NBFI at the IIF, speaks with Phil Waldeck, Executive Vice President and Head of U.S. Business at Prudential Financial, about The Case for Lifetime Income, a 2026 study by the Global Aging Institute sponsored by Prudential Financial. Drawing on insights from five major retirement systems, the report examines how countries can improve retirement security while addressing the growing challenges posed by aging populations, increasing longevity, and mounting pressure on public finances. The conversation explores the economic and societal benefits of lifetime income solutions, including how longevity pooling can help deliver better retirement outcomes while improving the efficiency of retirement systems. Phil discusses why the transition from defined benefit pensions to defined contribution plans has created new challenges for retirees, the behavioral and structural barriers that have limited the adoption of lifetime income products, and the policy changes that could help individuals convert retirement savings into more secure and sustainable income streams. The discussion also highlights lessons from retirement systems in the United States, Australia, Japan, the Netherlands, and the United Kingdom, and why different countries are pursuing different approaches to the same demographic challenge. The episode further examines the implications of aging populations for life insurers, including the importance of asset-liability matching, long-duration investing, and the growing role of insurers in managing longevity risk. Phil also reflects on the respective roles of policymakers, employers, financial institutions, and retirement plan providers in strengthening retirement outcomes and discusses how the report's recommendations are being received by governments, regulators, and international organizations. Together, the discussion offers a timely look at one of the most significant financial and social challenges facing economies around the world: how to provide retirement income that people can rely on throughout increasingly longer lives.

  3. Jul 15

    The Future of Insurance Supervision in Europe — Priorities, Risks, and Opportunities

    In this episode of the Global Regulatory Update podcast, host Philippe Brahin, Head of Insurance and NBFI at the IIF, speaks with Petra Hielkema, Chairperson of the European Insurance and Occupational Pensions Authority (EIOPA), following her confirmation for a second five-year term. Against a backdrop of geopolitical uncertainty, climate risk, technological disruption, and economic fragmentation, the conversation explores EIOPA’s new Strategy to 2030 and its vision for strengthening the European insurance and pensions sector. Petra discusses the implementation of the revised Solvency II framework, including new proportionality measures, reduced reporting requirements, and efforts to support investment while preserving a robust risk-based supervisory system. The discussion also examines the European Commission’s Savings and Investment Union, the role of insurers as long-term investors, and the challenge of mobilizing capital to support Europe’s economic, digital, and green transitions. In addition, Petra shares her perspective on the growing pension gap and the policy initiatives aimed at encouraging greater long-term savings and retirement preparedness across Europe. The episode further explores some of the most pressing issues facing supervisors and insurers today, including natural catastrophe protection gaps, digitalization and AI, the evolution of private markets and private credit, and the importance of international supervisory cooperation through organizations such as the IAIS. Petra reflects on the progress made during her first mandate, the opportunities and challenges ahead for European supervision, and why stronger dialogue between regulators and industry will be essential to building resilience, fostering innovation, and supporting sustainable growth in the years ahead.

  4. Jun 29

    A Decade of Leadership at the IAIS - Reflections on Global Insurance Supervision with Jonathan Dixon

    In this episode of the IIF Global Regulatory Update podcast, host Philippe Brahin, Head of Insurance and NBFI at the IIF, speaks with Jonathan Dixon, Secretary General (2017-2026) of the International Association of Insurance Supervisors (IAIS), as he concludes nearly a decade of leadership at the organization. The conversation reflects on a period marked by major global disruptions - including the global pandemic, war conflicts, geopolitical fragmentation, and rapid technological changes - alongside significant milestones in international insurance regulation. Drawing on his experience, Jonathan discusses the evolution of the IAIS and its efforts to deliver global standards across a highly diverse membership of roughly 200 jurisdictions. The conversation explores the development and adoption of key frameworks such as ComFrame, the Holistic Framework for systemic risk, and the Insurance Capital Standard (ICS), and what they signal for the future of global convergence in insurance.  The episode also examines emerging priorities for regulators, including the assessment of systemic risk in the insurance sector, the role of insurers in evolving areas such as private credit and asset-intensive reinsurance, and the growing importance of operational resilience in an AI-enabled environment. Jonathan reflects on the continued need to address protection gaps, particularly in natural catastrophe risks, and the role of insurance in supporting societal resilience, economic growth, and long-term investment, while emphasizing the importance of public–private collaboration in shaping innovative insurance solutions and effective supervisory frameworks. The discussion concludes with forward-looking insights on the evolving global regulatory landscape and the enduring strengths of the insurance model.

  5. Jun 3

    The New Shape of Risk — Insights From the Third EY/IIF Insurance Risk Survey

    In this episode of the Global Regulatory Update podcast, host Melanie Idler, Policy Advisor at the IIF, speaks with EY's Stuart Doyle, U.S. Insurance Risk and Regulation Leader, and Rasika Karnik, U.S. Insurance Risk Senior Manager, about the findings of the third annual EY–IIF Global Insurance Risk Management Survey, which examines how insurance chief risk officers are navigating a rapidly evolving global risk landscape. Drawing on insights from more than 100 CROs and senior risk executives, the discussion explores how insurers are operating in a nonlinear, accelerated, volatile, and interconnected (NAVI) risk environment, where risks materialize faster, spread more widely, and interact in increasingly complex ways. The guests examine how this is reshaping the role of the CRO, with greater expectations for real-time insights, forward-looking analysis, and deeper integration into business decision-making. They highlight the continued dominance of cyber risk as the top near-term concern, alongside the growing importance of strategic risk, reflecting the expanding remit of risk leaders as organizations respond to geopolitical shifts, technological disruption, and market change. The conversation also focuses on how insurers are adapting their operating models and capabilities. AI and advanced analytics are moving from experimentation into core risk functions, driving both efficiency gains and new governance challenges, while prompting a shift toward capability-driven risk teams rather than simple headcount growth. At the same time, CROs are balancing near-term pressures with longer-term risks such as climate transition, data privacy and ethics, and evolving global financial dynamics, requiring more adaptive skill sets and a broader, more strategic approach to risk management. Together, these themes underscore a fundamental transition: from managing risk as a control function to positioning it as a central driver of resilience, insight, and decision-making across the insurance enterprise.

  6. May 20

    From Peak Pressure to Policy Reset — Insights From the Latest KPMG Regulatory Barometer

    In this episode of the Global Regulatory Update podcast, host Philippe Brahin, Director, Insurance and NBFI Regulation and Policy at the IIF, speaks with three KPMG colleagues from the EMA Financial Services Regulatory Insight Centre, Michelle Adcock, Banking; Kate Dawson, Capital Markets; and Alisa Dolgova, Insurance Regulation Sector Heads, to discuss the findings of the latest KPMG Regulatory Barometer, which assesses the impact of regulatory and supervisory developments across the UK and EU financial sectors. Drawing on key insights from the Barometer, the discussion explores how overall regulatory pressure appears to have peaked and is now trending downward, with a growing focus on simplification, proportionality, and the review of existing frameworks rather than large new regulatory packages. The guests examine how this shift is being experienced in practice, such as early efforts to streamline reporting and processes and differences between UK and EU approaches. They also highlight how operational resilience remains a central priority, driven by external risks such as geopolitical tensions, cyber threats, and supply‑chain disruptions, while areas like private credit and private markets are drawing heightened supervisory attention due to their rapid growth and potential spillovers into the broader financial system. The conversation further looks at the growing importance of technology and digital innovation, with a particular focus on AI, digital assets, and tokenization, and the regulatory challenges associated with governance, concentration risk, and cross‑border alignment. The guests also reflect on the evolving role of sustainability and ESG in Europe, where declining regulatory pressure reflects a recalibration rather than a retreat, as institutions shift from compliance‑focused approaches toward embedding ESG into broader business strategy and long‑term resilience frameworks.

  7. May 7

    AMLA and the Next Era of EU Financial Crime Supervision

    In this episode of the Global Regulatory Update, Martin Boer, General Manager and Chief Representative, Europe, speaks with Laurin Frommann, Managing Director & Partner, and Andreas Bürkli, Associate Director at Boston Consulting Group (BCG), about the creation of the new European Anti-Money Laundering Authority, AMLA, and how it will reshape the AML/CFT supervisory landscape across Europe. Drawing on insights from the joint IIF–BCG white paper, The Evolution of the AML/CFT Landscape Under the New European Anti-Money Laundering Authority, the conversation explores how AMLA aims to replace years of fragmented national approaches with a more centralized supervisory framework rooted in risk‑based oversight and greater supervisory coherence. The discussion examines AMLA’s dual mandate to supervise high‑risk cross‑border institutions and support Financial Intelligence Units, as well as its ambition to become a data‑driven authority that improves reporting consistency and supports more intelligence‑led supervision. The podcast also looks at AMLA’s emphasis on technology‑enabled financial‑crime detection, including how supervisors and industry can work together to assess emerging tools such as AI and machine‑learning solutions. Laurin and Andreas discuss the importance of a proportionate, principles‑based approach across different sectors and customer segments to ensure supervisory expectations remain both effective and achievable. Another focus of the conversation is AMLA’s forthcoming direct supervision of 40 firms, designed to act as a “lighthouse” for broader EU supervisory practices. The guests reflect on how firms perceive this designation, the reputational sensitivities involved, and the operational and governance preparations already underway across the industry. The discussion concludes with AMLA’s potential global role: strengthening the EU’s voice in international AML/CFT standard setting, improving cross‑border coordination, and contributing to more outcome‑focused global frameworks, while also supporting the competitiveness of EU‑headquartered institutions.

  8. Apr 10

    The Risk Agenda at a Turning Point: Insights From the 15th IIF/EY CRO Survey

    In this episode of the IIF Global Regulatory Update Podcast, Martin Boer, General Manager and Chief Representative, Europe, speaks with EY global financial practice leaders - Tom Campanile, Global and Americas Financial Services Risk Consulting Leader, Chris Woolard, Chair of the Global Regulatory Network, and Jim Barkley, Americas Banking and Capital Markets Enterprise Protection Lead - about the findings of the 15th Annual EY/IIF Global Bank Risk Management Survey - Shifting Priorities: CRO Agendas in a Time of Uncertainty and Innovation.  Drawing on the survey’s latest results, the discussion explores how banks are navigating an environment characterized by persistent volatility, regulatory complexity, and a widening mix of financial, operational, technological, and geopolitical risks. The guests reflect on how the role of the CRO has evolved over the past decade, the growing tension between resilience and competitiveness, and why risks such as operational resilience, cyber risk, and geopolitical uncertainty continue to feature prominently year after year. They also examine whether banks are becoming more effective at prioritizing among multiple risks—or still reacting to the latest shock. The conversation further addresses the gap between strong frameworks and real‑world outcomes, including where banks may be overestimating their maturity in areas such as data, third‑party risk, and crisis response. Tom, Chris, and Jim discuss how institutions can move beyond a compliance‑driven mindset, whether existing supervisory tools are fit for today’s uncertainty, and what risk capabilities CEOs should be investing in now to remain resilient over the next three to five years. The episode concludes with reflections on what success should look like as global bank risk management approaches the next decade.

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About

Hosted by the IIF’s Regulatory Affairs department, this podcast series features interviews with regulators, thought leaders, and executives shaping today's regulatory environment.

Information

  • Creator
    Institute of International Finance
  • Years Active
    2020 - 2026
  • Episodes
    53
  • Rating
    Clean
  • Copyright
    © All rights reserved
  • Show Website
    Global Regulatory Update

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