At its AGM today, the IAIS adopted the first comprehensive global capital standard for insurance supervision, the ICS, and also adopted important updates to existing qualitative global standards for insurance supervision, the ICPs and ComFrame, related to climate risk, recovery and resolution, and valuation and capital adequacy.
The IAIS Executive Committee has approved the final version of the global Insurance Capital Standard (ICS) as a prescribed capital requirement for internationally active insurance groups (IAIGs). The IAIS Executive Committee has also finalised the comparability assessment of the United States (US)-developed Aggregation Method (AM), concluding that a US AM provides a basis for implementation […]
This document provides answers to frequently asked questions about the ICS and the Report on Aggregation Method comparability assessment as of November 2024.
The IAIS published today the 2024 ICS data collection package for the final year of the monitoring period and announced its high-level plans for ICS implementation.
