Featured Product

    IAIS Issues Insurance Newsletter for January 2018

    January 29, 2018

    IAIS published the January issue of its newsletter. The Secretary General explains that 2018 will be an important year for IAIS. It is slated to make key decisions on the design of ICS Version 2.0 and on the development of a holistic approach to the mitigation of systemic risk in the global insurance sector. IAIS will also prepare a more responsive approach for providing guidance on how to tackle a range of developing issues such as fintech, cyber risk, and sustainability. In 2018, IAIS will also set out its vision for the next five years, through its work on a new Strategic Plan and Financial Outlook.

    The newsletter highlights that IAIS is developing two new application papers that draw on the conclusions of the 2014 Self-Assessment and Peer Review (SARP) of governance-related Insurance Core Principles (ICPs). IAIS is also working on governance-related requirements, as part of ComFrame. It plans to publish ComFrame in its entirety in mid-2018, including the material related to corporate governance. Adoption of ComFrame is slated for year-end 2019. IAIS has already published an application paper on Group Corporate Governance in November 2017. 

    The newsletter also states that the Executive Committee in its annual strategic retreat discussed the IAIS’ systemic risk assessment work plan and further development of ICS Version 2.0. Insurance Groups Working Group discussed further resolution of comments from public consultation on the ComFrame material integrated into ICP 9 on Supervisory Review and Reporting; ICP 10 on Preventive Measures, Corrective Measures, and Sanctions; and ICP 25 on Supervisory Cooperation and Coordination. The Resolution Working Group discussed further development of ICP and ComFrame material on recovery plans integrated into ICP 10 and ComFrame material integrated into ICP 12 on Exit from the Market and Resolution. The Working Group also discussed the potential development of an application paper to provide supporting material to the ICP and ComFrame material in the area of recovery and resolution.

     

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

    Featured Experts
    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153