Featured Product

    IAIS Publishes Report on 2019 G-SII Identification Process

    December 13, 2019

    IAIS published a report on the 2019 global systemically important insurer (G-SII) identification process. The IAIS analysis is focused on identifying G-SIIs, which are insurers whose distress or disorderly failure would potentially cause significant disruption to the global financial system and economic activity. BIS and IAIS collaborate to conduct a data collection exercise to enable IAIS to assess the potential systemic importance of insurers in the global context (the G-SII Project). IAIS also published the instructions that supplement the guidelines for G-SII data collection exercises by setting out the specificities of the 2019 G-SII data collection exercise conducted for the G-SII Project.

    IAIS used the 2016 G-SII Assessment Methodology to complete the 2019 G-SII data collection exercise. The 2016 G-SII Assessment Methodology adds an extra level of transparency to the annual G-SII identification process for both participating insurers and the public. The data template used for the G-SII assessment process this year has been provided in the Annex to the report. In 2019, IAIS collected data from 52 insurers. Two Insurer Pool participants in 2018 were excluded in 2019 and two new participants were added in 2019. Pursuant to paragraph 83 of the 2016 Assessment Methodology, IAIS will release several pieces of information to the public and these are:

    • The aggregate totals for the denominators for each Phase II indicator
    • The Absolute Reference Values (ARV) used for the Phase II indicators, including the numerator, denominator, and any other factors used to establish the Absolute Reference Value
    • The data template and instructions used in the G-SII assessment process
    • The data elements from the data template that comprise the formulae for the Phase II indicators
    • Analysis of aggregate trends in the Insurer Pool
    • A description of the nature of the additional analysis undertaken

    The internal processes of IAIS for the analysis of the data collected pursuant to the guidelines and the instructions have been described in the IAIS G-SII Assessment Methodology. For a complete overview of data collection and processing in connection with the G-SII Project, the guidelines, instructions, and G-SII Assessment Methodology should be read together. Additional granular data items were collected as part of the 2019 data collection exercise, in comparison with the 2018 exercise. This data collection will support IAIS in the finalization of the holistic framework for systemic risk in the insurance sector.

     

    Keywords: International, Insurance, G-SII, G-SII Project, Instructions, Data Collection, Identification Process, Assessment Methodology, IAIS

    Related Articles
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    News

    HKMA Extends Repayment for Trade Facilities, Consults on Crypto-Assets

    The Hong Kong Monetary Authority (HKMA) published a circular, along with the reporting form and instructions, for self-assessment, by authorized institutions, of compliance with the Code of Banking Practice 2021.

    January 12, 2022 WebPage Regulatory News
    News

    FCA Registers Securitization Repositories; PRA Issues 2022 Priorities

    The Financial Conduct Authority (FCA) decided to register European DataWarehouse Ltd and SecRep Limited as securitization repositories under the UK Securitization Regulation, with effect from January 17, 2022.

    January 12, 2022 WebPage Regulatory News
    News

    EC Regulation Sets Out Methods for Measuring K-Factors Under IFR

    The European Commission (EC) published the Delegated Regulation 2022/25, which supplements the Investment Firms Regulation (IFR or Regulation 2019/2033) with respect to the regulatory technical standards specifying the methods for measuring the K-factors referred to in Article 15 of the IFR.

    January 11, 2022 WebPage Regulatory News
    News

    BIS Studies How Platform Models Impact Financial Stability & Inclusion

    The Bank of International Settlements (BIS) published a paper that assesses the ways in which platform-based business models can affect financial inclusion, competition, financial stability and consumer protection.

    January 10, 2022 WebPage Regulatory News
    News

    CBE Issues Additional Measures to Ease Disruptions from Pandemic

    The Central Bank of Egypt (CBE) published a circular with instructions on emergency liquidity assistance to banks that are unable to meet their liquidity requirements.

    January 10, 2022 WebPage Regulatory News
    News

    ESAs Publish List of Financial Conglomerates for 2021

    The European Supervisory Authorities (ESAs) published the list of identified financial conglomerates for 2021.

    January 07, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7868