Featured Product

    IAIS Publishes Roadmap for 2019

    June 28, 2019

    IAIS published its public roadmap for 2019 to inform stakeholders about the key activities planned for year and to facilitate greater awareness and engagement with respect to these activities. The key activities for 2019 can be thematically categorized into standard-setting, financial stability, implementation and assessment, and assessing and responding to the emerging risks and opportunities. Additionally, IAIS published a review of its work in 2018, which highlights that IAIS moved closer to finalizing the post-crisis reform agenda.

    The following are the key highlights of the IAIS roadmap:

    • Standard-setting—Projects under this area reflect work of IAIS on supervisory material to finalize the revision of the Insurance Core Principles (ICPs) and the development of the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame), including the Insurance Capital Standard (ICS). Projects include finalization of ICS Version 2.0 for confidential reporting to group-wide supervisors and developing criteria for assessing comparable outcomes between ICS and the U.S. Aggregation Method.
    • Financial Stability—Projects in this area include the work of IAIS on developing a holistic framework to mitigate systemic risk in the global insurance sector, recognizing that systemic risk may arise from both the collective activities/exposures of insurers at a sector-wide level as well as from the distress or disorderly failure of individual insurers.
    • Implementation and Assessment—Projects in this area support the IAIS objective of globally consistent and effective implementation of the IAIS’ supervisory material by assessing implementation and supporting members to implement this material through the development of targeted guidance (that is, Application and Issues Papers). The projects are related to assessment and monitoring of global systemically important insurer (G-SII) policy measures implementation and peer review process on supervisor and their objectives (ICPs 1 and 2) and corporate and risk governance (ICPs 4, 5, 7 and 8).
    • Assessing and Responding to Emerging Risks and Opportunities—Projects in this area facilitate sharing of experiences and practices among members to help them better understand emerging supervisory issues and proactively tackle related supervisory challenges and opportunities. The projects are related to fintech, cyber risk, and climate risk and sustainability.

    Keywords: International, Insurance, ICPs, ComFrame, ICS, Financial Stability, Systemic Risk, Fintech, Climate Risk, Roadmap, G-SII, IAIS

    Featured Experts
    Related Articles
    News

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5606