The IAIS has published a detailed assessment of observance of the IAIS Insurance Core Principles (ICPs) in Albania through its Member Assessment Programme (MAP). The regulatory and supervisory framework of Albania is assessed as having a high level of observance of the ICPs. A large majority of the ICPs are assessed as either Observed or […]
The MAP Albania report is a detailed assessment of regulation and supervision of the insurance sector in Albania. To inform the assessment, meetings were held in Tirana with the Albanian Financial Supervisory Authority, government officials, industry (insurers and intermediaries) and industry associations and professional bodies. The report contains the details of the assessment of the observance levels of the ICPs as well as distinct recommendations to improve observance levels of ICPs. It also includes the authority’s response to the assessment as well as an institutional and market overview. The regulatory and supervisory framework of Albania is assessed as having a high level of observance of the ICPs. A large majority of the ICPs are assessed as either Observed or Largely Observed.
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.