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December 18, 2017

IAIS published the December issue of its newsletter. The key highlight of this issue is the interview with new IAIS Secretary General Jonathan Dixon, who became the Secretary General of IAIS following the conclusion of the 2017 IAIS Annual Conference. He discussed his top priorities as the new Secretary General while describing the IAIS as a remarkable trajectory and sharing examples to this effect, such as work on ComFrame and systemic risk in the insurance sector; development of high-quality papers on topics, including cybersecurity and fintech; and partnership with other organizations to provide forums for supervisors to exchange ideas and develop good supervisory practices.

The newsletter highlights updates related to interim public consultation paper on an activities-based approach to systemic risk and adoption of the Application Paper on product oversight in inclusive insurance. Another highlight is the work of G-SII Analysts Working Group on the finalization of the 2017 disclosure requirements, pursuant to the 2016 G-SII Assessment Methodology. The newsletter also mentioned the following outcomes from the meeting of the Accounting and Auditing Working Group:

  • Approval of a draft revised Insurance Core Principle (ICP) 20 (Public Disclosure) paper for circulation to other IAIS working groups for comment
  • Approval of a draft IAIS comment letter on the Monitoring Group Consultation “Strengthening the Governance and Oversight of the International Audit related Standard-Setting Boards in the Public Interest”
  • Productive dialog on recent and anticipated accounting changes pertinent to insurers as well as on advancing the recommendations from the “Report of the FSB Task Force on Climate-related Financial Disclosures (TCFD)”

 

​Keywords: International, Insurance, ICP, Newsletter, Fintech, ComFrame, Systemic Risk, IAIS

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