IAIS begins the AM comparability assessment
The IAIS has begun its assessment of whether the Aggregation Method (AM) being developed by the United States provides comparable outcomes to the global Insurance Capital Standard (ICS), and if so, will be considered an outcome-equivalent approach for implementation of the ICS as a prescribed capital requirement (PCR). The assessment is proceeding in line with the timeline, methodology, process and governance as agreed upon by the IAIS. It is being undertaken by a team of technical experts within the IAIS Secretariat.
Vicky Saporta, Chair of the IAIS, announced: “The work of the IAIS on the AM comparability assessment is driven by a commitment to deliver a technical, robust and transparent exercise, allowing stakeholders to understand the basis of the assessment and its conclusions. We are now entering the final phase, namely the technical analysis underlying the assessment. I would like to thank all the IAIS members and all participating insurers who worked diligently in recent months to provide the detailed inputs that will be informing our analyses.”