South African Reserve Bank takes helm of global network of insurance supervisors focused on sustainability  

New York / Pretoria / Singapore, 6 November 2025:  The United Nations Development Programme (UNDP) has announced the appointment of Ms. Fundi Tshazibana, Deputy Governor of the South African Reserve Bank (SARB), Chief Executive Officer of the Prudential Authority, as the new Chair of the UNDP-convened Sustainable Insurance Forum (SIF).  

Ms. Tshazibana succeeds Mr. Daniel Wang, Executive Director and Head (Insurance) at the Monetary Authority of Singapore (MAS), who completed his two-year term as Chair.  

The Prudential Authority, led by Ms. Tshazibana, regulates banks, insurers, cooperative financial institutions, and financial conglomerates in South Africa. She brings to UNDP SIF more than two decades of experience in financial-sector regulation, macro-economic policy, and international cooperation, including senior roles at the International Monetary Fund (IMF), South Africa’s National Treasury, and the National Energy Regulator (NERSA).  

Ms. Fundi Tshazibana, new Chair of the Sustainable Insurance Forum, said:  
“It is an honour to take on this role at such a pivotal moment for the insurance sector globally. UNDP SIF has become an essential platform for supervisors to share insights, strengthen resilience, and support the sector’s contribution to sustainable development. As the Forum approaches its 10th anniversary in 2026, we have a unique opportunity to build on the momentum from South Africa’s 2025 G20 Presidency and further strengthen the voice of emerging markets in shaping sustainable insurance supervision. I also wish to acknowledge Daniel Wang and the Monetary Authority of Singapore for their leadership in consolidating the SIF’s foundations and impact these past two years.” 

Mr. Daniel Wang, outgoing Chair of the Sustainable Insurance Forum, said:  
“It has been a great privilege to chair the UNDP SIF and to see the Forum grow from strength to strength. Over the last two years, the SIF has advanced work on climate-related capital frameworks, transition plans, and nature-related risks. I am confident that under Ms. Tshazibana’s leadership, the SIF will continue to serve as a key pathfinder on climate and sustainability risk management for the global insurance sector, and continue the excellent collaboration among its many members.”  

Mr. Marcos Neto, UN Assistant Secretary-General and Assistant Administrator UNDP, said:  
“UNDP warmly welcomes Ms. Tshazibana as the new Chair of the Sustainable Insurance Forum. Her leadership at the South African Reserve Bank and international experience will be invaluable as the Forum enters its next phase, strengthening supervisory capacity to manage sustainability risks. As SIF celebrates its 10-year anniversary in 2026, her appointment builds on the momentum of South Africa’s G20 Presidency and the growing leadership of emerging markets. I also thank Daniel Wang and MAS for their outstanding stewardship.”  
 

A Decade of Supervisory Leadership  

Launched in 2016 by pioneering insurance supervisors with the support of the International Association of Insurance Supervisors (IAIS), the UNDP Sustainable Insurance Forum has grown to include 40 authorities worldwide, regulating more than 90 percent of global insurance assets.  

In 2026, the SIF will celebrate its 10-year anniversary, marking a decade of advancing the management of climate risks and other sustainability matters among member insurance supervisors. Past chairs have included leaders from the California Department of Insurance, the Australian Prudential Regulation Authority, the Bank of England, and the Monetary Authority of Singapore.  

In recent years, the SIF deepened its technical work on climate-related capital frameworks, insurance-sector transition planning, and nature-related risk supervision, while strengthening coordination with the IAIS and other global bodies.  

Looking ahead, Ms. Tshazibana’s role as chair will build on South Africa’s 2025 G20 Presidency, reinforcing the country’s contribution to global sustainable-finance dialogue and positioning the SIF to support implementation of G20 priorities across climate, nature, and resilience. The milestone also reflects the growing leadership of emerging markets in shaping the future of sustainable insurance supervision.  

Media Contact 
Ms. Ayesha Babar 
Head of Strategic Coordination and Communications,
United Nations Development Programme (UNDP) 
ayesha.babar@undp.org 

About UNDP 
As the United Nations lead agency on international development, UNDP works in 170 countries and territories to eradicate poverty and reduce inequality. UNDP helps countries to develop policies, leadership skills, partnering abilities, institutional capabilities, and to build resilience to achieve the Sustainable Development Goals. UNDP’s work is centred around six signature development solutions: poverty and inequality, governance, resilience, environment, energy and gender equality. 
Learn more at www.undp.org 

About the UNDP Sustainable Insurance Forum (SIF)  
The UNDP Sustainable Insurance Forum (SIF) is a global network of 40 insurance supervisors and regulators working together to strengthen responses to sustainability and climate-change challenges facing the insurance sector. SIF provides a platform for international collaboration, knowledge sharing, and policy innovation. 
For more information, please visit www.sustainableinsuranceforum.org