The IAIS has begun its assessment of whether the Aggregation Method (AM) being developed by the United States provides comparable outcomes to the global Insurance Capital Standard (ICS), and if so, will be considered an outcome-equivalent approach for implementation of the ICS as a prescribed capital requirement (PCR). The assessment is proceeding in line with […]
This document provides an overview on the Aggregation Method comparability assessment which is being undertaken by a team of technical experts within the IAIS Secretariat.
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.
Background information The consultation closed on 21 September 2023. The purpose of this public consultation was to solicit feedback from stakeholders on the global Insurance Capital Standard (ICS) ahead of its adoption as a group Prescribed Capital Requirement (PCR) for Internationally Active Insurance Groups (IAIGs) at year-end 2024. The consultation document presented the ICS as […]
