The IAIS today published its 2023 Global Insurance Market Report (GIMAR), sharing the outcomes of this year’s Global Monitoring Exercise (GME), the IAIS’ risk assessment framework to monitor key risks and trends and detect the potential build-up of systemic risk in the global insurance sector.
The 2023 Insurance Capital Standard (ICS) and Aggregation Method (AM) data collection packages are now available on the IAIS website. The 2023 ICS data collection includes both ICS version 2.0 and the candidate ICS as a prescribed capital requirement (PCR), thereby enabling the IAIS to distinguish the impact of policy changes versus changing macroeconomic conditions. […]
The IAIS has launched a public consultation on the candidate Insurance Capital Standard (ICS) as a prescribed capital requirement (PCR) and on two draft revised Insurance Core Principles (ICPs): ICP 14 (Valuation) and 17 (Capital Adequacy). Comments are invited by 21 September 2023.
The IAIS has just launched the public consultation on two revised Insurance Core Principles (ICPs): ICP 14 establishes supervisory requirements for the valuation of asset and liabilities for solvency purposes. ICP 17 establishes regulatory capital resources and requirements. Comments on ICP 14 and ICP 17 are invited by 21 September 2023 24.00 CEST.
The consultation closed on 21 September 2023. Background information The purpose of this public consultation is to solicit feedback from stakeholders on the global Insurance Capital Standard (ICS) ahead of its adoption as a group Prescribed Capital Requirement (PCR) for Internationally Active Insurance Groups (IAIGs) at year-end 2024. The consultation document presents the ICS as […]
The IAIS has agreed on the criteria that will be used to assess whether the AM provides comparable outcomes to the ICS, following public consultation and the resolution of comments published today.
