AILO at a glance

The Association of International Life Offices was formed in 1987 by a number of companies which provide insurance and investment services in many areas of the world. The founding Members recognised the vast potential of the international opportunity and its parallel development in the European single market, as well as the need for the emerging industry to have a framework of communication, standards and representation.

Over twenty years later the Association continues to achieve these founding aims and has recently revised its Constitution to better address today's challenges. AILO now stands poised to expand its scope and influence further, as the barriers to open competition in international insurance markets are inexorably removed.

Aims and objectives

The Constitution encompasses a number of key principles:

• The representation of Members' interests to governments, regulators, and political, insurance and other trade bodies to assist Members in the development of their business.
• The monitoring of proposed legislative, regulatory, taxation and other policy measures with the aim of influencing the development of policy, in relevant jurisdictions.
• The encouragement of the integrity and professionalism of its Members and promotion of these standards to governments, media and other channels.
• The provision of a forum through which Members can discuss matters of common interest, the provision of statistical information and the development and sharing of knowledge.

Membership

All Members are obliged to adhere to the rules set out in the Association's Constitution. Membership currently comprises over 50 companies from several jurisdictions.

The Management Committee comprises the Chief Executive and at least four elected Nominees, including the Chairman, Vice-Chairman, Treasurer, one Members' Representative and the immediate past Chairman. It is charged with running the affairs of the Association. Mutual Interest Groups, organised as sub-committees, represent the interests of particular groups of Members and fall into two main areas: International and European. Sub-committees have permanent standing and ad hoc committees are formed in response to special issues, meaning that the Association is always ready to respond to the latest topic of interest in its industry.

Membership fees

Membership fees: The basic Membership fee is currently £8,500 (or equivalent amount in other currencies) per annum for a single company Membership. For group companies, there is a supplementary fee for each additional group company which wishes to become a Member of 25% of the basic fee. New Members are entitled to receive copies of past documentation produced by AILO, although a nominal fee may be charged for its preparation. The fee for Observer Membership, which is available to international life companies who are closed to new business and to reinsurance companies working with cross-border business, carries a reduction of the full Membership fee (as this class of Membership does not confer voting rights).

Fees for the financial year July 1 2010 /June 30 2011:
Single membership = £8500
Group membership = 25% of single = £2125
Observer status = 75% of single = £6375

Media relations

AILO receives regular publicity in the financial services industry press and encourages the development of a greater awareness of its aims, objectives and activities. All media enquiries concerning the Association should, in the first instance, be addressed to its Secretariat. Relationships with other associations and industry regulators

AILO currently has regular communications with, and/or representatives on, similar industry associations in the Grand-Duché de Luxembourg, Guernsey, Hong Kong, Ireland, the Isle of Man and the United Kingdom, as well as having the capacity to make representations to the regulators in those and other jurisdictions. Additionally, AILO maintains frequent communication with the various financial services divisions of the European Commission.

Surveys and their consolidations

A prime function of the Association is the coordination of business surveys. These are a condition of Membership and the confidentiality of each Member's data is ensured through their consolidation by an independent firm of actuaries.

Actuaries

Boal & Co, Marquis House, Isle of Man Business Park, Douglas, Isle of Man IM2 2QZ

Auditors

KPMG Heritage Court, 41 Athol Street, Douglas, Isle of Man IM99 1HN

Banks

Isle of Man Bank Limited, PO Box 13, First Floor, 2 Athol Street, Douglas, Isle of Man IM1 1JA

BGL BNP Paribas S.A., 27 avenue Monterey, L -2951 Luxembourg Grand Duché de Luxembourg

Registered Address

Secretariat