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.
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Dated March 28, 2025, considering the Statutes of the new Corporation Association of Insurance Supervisors of Latin America,
…the appointment of the Board’s positions was carried out, an entity that replaced the Board that had led the Association from May 2023 to March 2025.
The term of office of the new Board will run from March 2025 to April 2027, and it is composed of the following members:
President Superintendency of Insurance of the Nation of Argentina
Represented by: Guillermo Pedro Plate
Vice President Financial Market Commission, Chile
Represented by: Augusto Iglesias Palau
Vice President Superintendency of Insurance and Reinsurance of Panama
Represented by: Luis Enrique Bandera
Director Insurance Superintendency, Central Bank of Paraguay
Represented by: Adriana Jazmín Bernal Lugo
Director National Insurance and Bonding Commission, Mexico
Represented by: Ricardo Ernesto Ochoa Rodríguez
Director Superintendency of Banking, Insurance and AFPs, Peru
Represented by: Carlos Izaguirre Castro
Director Financial Superintendency of Colombia
Represented by: César Ferrari Quine
It is composed of three members who serve a two-year term. They carry out a list of functions, which are as follows:
- To review quarterly, and whenever the situation warrants it, the accounting books and the income and expense vouchers that the Treasurer and the Secretary must present, as well as to inspect bank and savings accounts.
- To ensure that Members remain up to date with their dues and to represent the Treasurer when any member is in arrears, so that the cause may be investigated and steps taken for the member to become current in their payments.
- To report at Ordinary or Extraordinary Assemblies on the management of the Treasury and the state of the finances, and to disclose any irregularity detected.
- To submit to the Annual Ordinary Assembly a written report on the Institution’s finances, on the manner in which the Treasury has been managed during the year, and on the annual financial statements prepared by the Treasurer, recommending to the Assembly their full or partial approval or rejection.
- To verify the accuracy of the inventory.
For the 2025–2027 term, the Audit Committee is composed of:
Member Superintendency of Banks of Guatemala
Represented by: Saulo De León Durán
Member National Commission of Banking and Insurance of Honduras
Represented by: Marcio Sierra Discua
Member Office of the Commissioner of Insurance of Puerto Rico
Represented by: Alexander Adams Vega
It is composed of three members who serve a two-year term and may be re-elected indefinitely.
Its functions are to investigate the facts and propose to the Board a sanction provided for in the bylaws, under the terms set forth in Article Twenty-Six thereof.
For the 2025–2027 term, the Disciplinary Tribunal is composed of:
Member General Superintendency of Insurance, Costa Rica
Represented by: Tomás Soley Pérez
MemberSuperintendency of Insurance of the Dominican Republic
Represented by: Julio César Valentín Jiminián
Member Superintendency of Insurance and Reinsurance of Panama
Represented by: Luis Enrique Bandera
Both functions are appointed by the Board and are currently under the responsibility of the:
Financial Market Commission
Country: Chile
