A unique organisation, AILO has developed strong links to Regulators and law makers in its twin mission: to promote the Single Market for life assurance products in Europe and to help its Members operate around the World, offering solutions to expatriates and within foreign, domestic markets on a sustainable and compliant basis. Membership is limited to life assurance companies operating in international and cross-border markets and to businesses which, wholly or partially, are involved in supporting AILO’s Members.
Establishment of the Association
The Association of International Life Offices was formed in 1987 by a number of companies which provided 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.
Thirty years later the Association continues to achieve these founding aims and to address today's challenges.
Aims and Objectives of AILO
The Constitution encompasses a number of key principles:
- The representation of Members' interests to governments, regulators, insurance and other trade bodies to assist Members in the development of their businesses.
- 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, market information and the development and sharing of knowledge.
All Members are obliged to adhere to the rules set out in the Association's Constitution. Membership currently comprises cross-border insurers and related companies from several jurisdictions.
The Management Committee comprises the Chief Executive and at least four elected Nominees, including the Chair, Vice-Chair, Treasurer, Members' Representatives, and the immediate past Chair. It is charged with running the affairs of the Association.
Mutual Interest functional groups, organised as sub-committees, represent the interests of particular groups of Members. Sub-committees have permanent standing and, in addition, ad hoc committees are formed as required in response to special issues, meaning that the Association is always ready to respond to the latest topic of interest in its industry.
AILO's Membership Fees
AILO Membership fees for the financial year from 1st July 2019 to 30th June 2020.
Full and Associate Membership:
£6,000 or €6,000 per annum
Subsequent companies joining within the same group:
£3,000 or €3,000 per annum
Associate Membership is available to interested companies, partnerships, consultants and organisations that demonstrate an involvement with, or substantial interest in, the provision of life insurance and associated products and services on a cross border basis. Note this class of Membership does not confer voting rights.
If an applicant joins during the Association’s financial year a pro-rata subscription will apply, (see article 4.4 of the Constitution).
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 maintains strong communications with, and/or representatives on, similar industry associations in the Grand-Duché de Luxembourg, Ireland, Hong Kong, Singapore, the Isle of Man and the United Kingdom, as well as having the capacity to make representations to the regulators in other jurisdictions. Additionally, AILO maintains frequent and direct communication with the various financial services divisions of the European Commission, MEPs and ESAs, especially within EIOPA.
KPMG in the Isle of Man acts as AILO's auditors.
KPMG Heritage Court,
41 Athol Street,
Douglas, Isle of Man
BGL BNP Paribas, Luxembourg and Isle of Man Bank
Isle of Man Bank Limited,
PO Box 13,
2 Athol Street,
Douglas, Isle of Man
BGL BNP Paribas S.A.,
27 avenue Monterey,
Grand-Duché de Luxembourg
Association of International Life Offices
1st Floor, Tudor House
St Peter Port
Association of International Life Offices Secretariat,
Level 21, Bastion Tower,
5 Place du Champ de Mars,