Organizational Structure

From its creation in 1979 until April 2009, the management, administration and representation of the Association was the responsibility of an Executive Committee, which was headed by the President of the Association.

On April 21, 2009, ASSAL obtained legal personality through Exempt Decree No. 1515 of the Chilean Ministry of Justice as "Association of Insurance Supervisors of Latin America Corporation, (Corporación Asociación de Supervisores de Seguros de América Latina), ASSAL" . Thus, the creation of the Corporation was perfected and its legal existence began.

Thereafter, a Directory is appointed as the governing body of the Corporation, which replaces the Executive Committee.

In accordance with the legal statutes, the Directory is elected by the General Assembly every two years. From among the members of the Directory, a President and two Vice Presidents are appointed. It is also the responsibility of the Directory to appoint a Secretary and a Treasurer.

On May 05, 2023, in accordance with the Bylaws of the new Association of Insurance Supervisors of Latin America Corporation,

The Directory, which replaced the Board of Directors that led the Association from November 2021 to April 2023, was appointed.
The new Directory will be in effect from May 2023 to April 2025, and is composed of the following members:

President Superintendencia General de Seguros de Costa Rica
Represented by: Tomás Soley Pérez
Vice-president Comisión para el Mercado Financiero, Chile
Represented by: Augusto Iglesias Palau
Vice-president Comisión Nacional de Seguros y Fianzas, México
Represented by: Ricardo Ernesto Ochoa Rodríguez
Director Superintendencia de Seguros y Reaseguros, Panamá
Represented by: Alberto Vásquez Reyes
Director Superintendencia de Seguros Privados de Brasil
Represented by: Alessandro Octaviani Luis
Director Superintendencia de Seguros de la Nación de Argentina
Represented by: Mirta Adriana Guida
Director Superintendencia Financiera de Colombia
Represented by: César Ferrari Quine

It is composed of three members who serve a two-year term. They perform a list of functions, these are:

  1. Review on a quarterly basis and when the situation warrants it, the accounting books and the receipts and disbursements vouchers that the Treasurer and the Secretary must show him/her, as well as inspect the bank and savings accounts.
  2. To see that the Members are up to date in the payment of their dues and to represent the Treasurer when any member is in arrears so that the cause may be investigated and the member is brought up to date in his payments.
  3. To report in Ordinary or Extraordinary Assembly on the progress of the Treasury and the state of the finances and to give an account of any irregularity he/she may notice.
  4. To submit to the Annual Ordinary Assembly a written report on the finances of the Institution, on the way the Treasury has been managed during the year and on the balance sheet of the annual fiscal year prepared by the Treasurer, recommending to the Assembly the total or partial approval or rejection thereof.
  5. To verify the accuracy of the inventory.


For the period 2021-2023, the Audit Committee is composed of:

Member Superintendencia de Bancos de Guatemala
Represented by: Saulo De León Durán
Member Comisión Nacional de Bancos y Seguros de Honduras
Represented by: Marcio Sierra Discua
Member Oficina del Comisionado de Seguros de Puerto Rico
Represented by: Alexander Adams Vega

It is composed of three members who serve for two years and may be reelected indefinitely.

Its functions are to investigate the facts and propose a sanction provided for in the bylaws to the Directory, under the terms set forth in article twenty-six of the same.
For the period 2021-2023, the Disciplinary Tribunal is composed of:

Member Superintendencia General de Seguros, Costa Rica
Represented by: Tomás Soley Pérez
Member Superintendencia de Seguros de República Dominicana
Represented by: Josefa Castillo Rodriguez
Member Superintendencia de Seguros y Reaseguros de Panamá
Represented by: Alberto Vásquez Reyes

Both functions are designated by the Directory, and are currently in charge of the:

Comisión para elMercado Financiero
Country: Chile