IAIS published the updated timeline on the development of Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) and on the revision of Insurance Core Principles (ICPs). The updated table provides up-to date information covering any ongoing or planned revisions. It also provides information on the recently conducted IAIS conference and on the upcoming IAIS global seminar.
ComFrame is a set of international supervisory requirements focusing on the effective group-wide supervision of internationally active insurance groups (IAIGs). ComFrame is built and expands on the high-level requirements and guidance set out in the IAIS ICPs, which generally apply on both a legal entity and group-wide level. ICPs are the globally accepted requirements for supervision of the insurance sector. They are structured to allow a wide range of regulatory approaches and supervisory processes to suit different markets and the range of insurance entities and groups operating in these markets.
Keywords: International, Insurance, ComFrame, ICPs, Timeline, IAIS
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