Insurance Core Principles and ComFrame

Insurance Core Principles (ICPs) are comprised of Principle Statements, Standards and Guidance, as a globally accepted framework for insurance supervision. The ICPs seek to encourage the maintenance of consistently high supervisory standards in IAIS member jurisdictions. A sound supervisory system is necessary for the protection of policyholders and promoting the stability of the financial system and should address the broad set of risks within, and posed by, the insurance sector.

The ICPs were first adopted in 2011 and have since been updated regularly, to reflect insurance market trends and developments, updates related to standards and guidance developed by other standing setting bodies, outcomes of IAIS implementation assessment activities, recommendations from the G20, as well as other developments in the global financial system relevant to the supervision of the insurance sector. The ICPs were last updated in November 2019.

The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) builds on ICPs and establishes supervisory standards and guidance focusing on the effective group-wide supervision of Internationally Active Insurance Groups (IAIGs). ComFrame is a comprehensive and outcome-focused framework aimed at facilitating effective group-wide supervision of IAIGs, by providing qualitative and (in a future phase) quantitative supervisory minimum requirements tailored to the international activity and size of IAIGs.

The IAIS adopted ComFrame in November 2019, with implementation starting in 2020.

FSI Connect : Introduction to ICPs

In a brief video that forms part of FSI Connect, the e-learning platform of the Financial Stability Institute, IAIS Secretary General Jonathan Dixon explains the rationale behind the ICPs, the key areas covered, the structure of the ICPs and how their observance can be assessed.

FSI Connect is available by subscription only to eligible public sector authorities. IAIS sponsors a number of FSI Connect licenses for distribution to its Members. Please contact us at for further information.

Tools and Resources

Key documents