The Insurance Association of Cyprus (IAC) announced its official membership, as of November 12, in the Global Federation of Insurance Associations (GFIA), the most important global federation of insurance associations and one of the most recognized representative bodies of the international insurance industry, cyprusinsurancenews.com reported.

Founded in 2012, GFIA currently represents 42 national and regional insurance associations from 68 countries, covering approximately 89% of global insurance premiums.

IAC's membership in GFIA significantly strengthens the international image of the Cypriot insurance industry, providing institutional recognition and active access to critical international processes, initiatives and discussions.

"IAC’s membership in the GFIA is an important recognition for the Cypriot insurance industry. It enables us to participate more actively in the international dialogue and to closely monitor events shaping the future of the insurance industry”, commented the President of IAC, Evangelos Anastasiades.