IAIS Newsletter June 2023
Read the latest news from the IAIS. This edition includes numerous takeaways from the IAIS Global Seminar 2023, our annual event focused on engaging with stakeholders.
30 Jun 2023
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29 Jun 2023
IAIS welcomes finalisation of ISSB disclosure standards
The ISSB disclosure standards will improve the quality and comparability of sustainability and climate risks reporting globally. The IAIS has set up a climate risk disclosures workstream that will study the Climate Related Disclosure Standard closely and take stock of relevant developments in climate risk disclosures. Following this, the IAIS will consider whether further work is needed.
29 Jun 2023
IAIS publishes updated Global Monitoring Exercise (GME) document
The Global Monitoring Exercise (GME) document outlines the objectives and process of the GME. This includes the updated Individual Insurer Monitoring (IIM) assessment methodology for 2023-2025 following the December 2022 – February 2023 public consultation.
28 Jun 2023
Publication of ICS and AM data collections packages
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. […]
23 Jun 2023
IAIS launches final consultation in preparation for adoption of the Insurance Capital Standard in 2024
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.
12 Jun 2023
IAIS seeks stakeholder input to its Strategic Plan 2025-2029
The IAIS has launched a process to develop its next Strategic Plan and invites stakeholders to share their views by Tuesday 11 July.
9 Jun 2023
Save the date: Public background call for three upcoming consultations
The IAIS will hold a public background call to introduce three public consultations to be launched on 23 June 2023: ICS as a PCR, ICP 14 and ICP 17
31 May 2023
IAIS Newsletter May 2023
Read the latest news from the IAIS. Our featured article this month is on insurance sector operational resilience.
23 May 2023
IAIS publishes Issues Paper on Insurance Sector Operational Resilience
The IAIS has now published its Issues Paper on Insurance Sector Operational Resilience, which identifies issues impacting operational resilience in the insurance sector and provides examples of how supervisors are approaching these developments, with consideration of lessons learnt during the Covid-19 pandemic. Recognising that operational resilience is a broad and evolving area, the paper addresses […]
28 Apr 2023
The role of supervisors in addressing natural catastrophe protection gaps
The IAIS today published a statement outlining its commitment to further support insurance supervisors’ actions to address protection gaps and highlights the IAIS’ focus areas for 2023.