Insurance Capital Standard
The purpose of the ICS is to create a common language for supervisory discussions of group solvency to enhance global convergence among group capital standards. ICS Version 2.0 for the monitoring period was agreed by the IAIS Executive Committee in November 2019. The five-year monitoring period is for confidential reporting and discussion in supervisory colleges from the beginning of 2020. During the monitoring period, ICS results will not be used as a basis for triggering supervisory action. Following the end of the monitoring period, the ICS will be implemented as a group-wide prescribed capital requirement.
The documents supporting ICS confidential reporting during the monitoring period can be accessed here.
The IAIS Executive Committee has approved the final version of the Insurance Capital Standard (ICS) as a prescribed capital requirement for internationally active insurance groups (IAIGs), which will be put forward for adoption at the IAIS Annual General Meeting on 5 December 2024.
Recent and upcoming events
- June 2024 – IAIS public webinar on ICS
ICS Explained
In this video series, we aim to enhance understanding of the key features of the ICS – the global group capital standard for IAIGs – and raise awareness of its benefits for both supervisors, insurance groups and policyholders. We highlight how the ICS promotes consistency, comparability and stability in the global insurance market.
The case for a global ICS
Five million data points – the making of the ICS
After ICS adoption – 2025 onwards
Whether you are an insurance professional, a supervisor or policymaker, or someone with a keen interest in the industry, this series of three 5-minute videos will provide valuable insights into the world of international insurance regulation. Join us on this journey as we uncover the key aspects and implications of the ICS.