IAIS issues public consultation on the draft criteria that will be used to assess whether the Aggregation Method provides comparable outcomes to the Insurance Capital Standard

The IAIS has launched the public consultation on the draft criteria that will be used to assess whether the Aggregation Method provides comparable outcomes to the Insurance Capital Standard (ICS).

This is a key milestone in the comparability assessment project and marks further progress of the IAIS’ 2017 agreement on the implementation of ICS version 2.0, including a unified path to convergence of group capital standards in furtherance of its ultimate goal of a single ICS that achieves comparable outcomes across jurisdictions.

Stakeholder feedback on the draft criteria is particularly important to provide a range of perspectives on this unprecedented area of work and gauge views on the appropriateness of the draft criteria. Responses to the consultation will help ensure the criteria take account of the complex issues that have to be addressed with this work. Feedback is invited by 15 August 2022.

For more information or to provide feedback please click here.