General Information & Client Service
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
May 23, 2018

The May issue of the IAIS newsletter highlights that IAIS will increasingly pivot to a greater emphasis on enhancing supervisory practices. Additionally, during its meeting, the Resolution Working Group (RWG) discussed several final revisions to supervisory material on recovery planning and to the ComFrame material integrated into ICP 12 on Exit from the Market and Resolution, before the consultation on ComFrame in its entirety begins in August. The RWG also discussed the first draft of the application paper on recovery planning, for which a public consultation is expected later this year.

At the meeting of the Accounting and Auditing Working Group, the stakeholders received an update on the status of the activities and near-term plans of the Working Group, including the draft revisions to Insurance Core Principle (ICP) 20 (Public Disclosure), which is expected to be issued for public consultation by July. The Working Group also had constructive discussions with representatives of the International Actuarial Association on the work related on IFRS 17, with IASB on its IFRS 17 implementation support activities, with FSI on planned IFRS 17 initiatives, and with interested stakeholders on near-term work and considerations for 2019-20 work plans. Other updates are as follows:

  • Discussions, at the April meeting of the Supervisory Forum, covered supervisory approaches to stress testing, Own Risk and Solvency Assessment (ORSA) supervision, risk-based prioritization, off-site monitoring, and challenges for life insurers in a low interest rate environment.
  • IAIS released an annual key insurance risks and trends (KIRT) survey, to provide a better understanding of the key insurance risks and trends in different jurisdictions, based on 22 broad risk indicators.
  • The Systemic Risk Assessment Drafting Group made considerable progress on the development of a holistic framework for the mitigation of systemic risk, which will be the subject of a public consultation in late 2018.

Keywords: International, Insurance, ICP, Newsletter, ComFrame, Supervisory Forum, ORSA, Systemic Risk, IFRS 17, IAIS

Related Articles

HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%

HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.

April 16, 2019 WebPage Regulatory News

EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2

The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.

April 16, 2019 WebPage Regulatory News

FDIC Consults on Approach to Resolution Planning for IDIs

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.

April 16, 2019 WebPage Regulatory News

EP Resolution on Proposal for Sovereign Bond Backed Securities

The European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).

April 16, 2019 WebPage Regulatory News

PRA Seeks Input and Issues Specifications for Insurance Stress Tests

PRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.

April 15, 2019 WebPage Regulatory News

PRA Finalizes Policy on Approach to Managing Climate Change Risks

PRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).

April 15, 2019 WebPage Regulatory News

EBA Single Rulebook Q&A: First Update for April 2019

EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.

April 12, 2019 WebPage Regulatory News

EIOPA Statement on Application of Proportionality in SCR Supervision

EIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.

April 11, 2019 WebPage Regulatory News

FED Updates Form and Supplemental Instructions for FR Y-9C Reporting

FED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.

April 11, 2019 WebPage Regulatory News

OSFI Finalizes Guidelines on Liquidity Adequacy and NSFR Disclosures

OSFI published the final Liquidity Adequacy Requirements (LAR) guideline and the net stable funding ratio (NSFR) disclosure requirements guideline.

April 11, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 2920