On Wednesday 27 May, Her Majesty Queen Máxima, the United Nations Secretary-General’s Special Advocate for Financial Health (UNSGSA), will attend a closed meeting entitled Insurance 4 ALL. Organised by CGAP in conjunction with the AXA insurance group and taking place at the AXA headquarters, the meeting will focus on affordable and accessible insurance and how it contributes to financial health. This meeting is part of the annual meeting of CGAP's Council of Governors. CGAP is an internationally oriented think tank focusing on financial inclusion.
Queen Máxima will take part in a fireside chat with Guillaume Borie, AXA's Global Head of Finance, Strategy, Underwriting, Risk and Technology. The moderator is Ekhosuehi Iyahen, Secretary-General of the Insurance Development Forum. Topics will include opportunities and responsibilities for insurers in developing affordable products that contribute to economic development and financial health. One example of this is the cooperation between an insurer in Kenya and a business supplying seed to small-scale farmers. Should a crop fail due to drought, for example, farmers receive compensation through a comprehensive crop insurance policy. The insurer uses satellite information to arrive at a reliable estimate of losses. This enables farmers to buy new seed, thus improving their financial resilience and reducing the possibility of their falling into debt.
Financial health has four components. One of these is financial resilience. Insurance can play a major role in this. During Insurance 4 ALL, insurers, development banks and policymakers will discuss what more they can do to help households protect themselves against unforeseen risks and expenses. They will also discuss the latest trends and new models that encourage innovation and inclusive insurance.
After the plenary session, Queen Máxima will attend a number of bilateral meetings on financial health along with the Financial Action Task Force (FATF) and the Organisation for Economic Co-operation and Development (OECD).
Queen Máxima also discussed the management of financial risks at a CGAP meeting in Washington, DC during this year's spring meeting of the IMF and World Bank. In September 2024 she opened an event hosted by AXA and news agency DEVEX on insurance and financial health.
Queen Máxima promotes the cause of financial health in the Netherlands as honorary chair of the Netherlands Financial Health Foundation (SFGN) and the Money Wise Platform.
Government Information Service, no. 154