EIOPA updated the list of Internationally Active Insurance Groups (IAIGs) headquartered in EU. The insurance groups that have been added to the list of IAIGs headquartered in EU are AXA, BNP Paribas Cardif, CNP Assurances, COVEA, Crédit Agricole Assurances, GROUPAMA, SCOR, and SOGECAP.
IAIGs are the focus of IAIS Common Framework for the Supervision of IAIGs. ComFrame identifies an IAIG as being an insurance group that meets two criteria, related to its international activity and size. The updated list is based on information from the European group-wide supervisors that have shared with EIOPA their own list as of May 18, 2020, according to the criteria and cases set out in the IAIS Common Framework for the Supervision of IAIGs (ComFrame 23.0.a and 23.0.b). The list is for informational purposes and should be used only in conjunction with ComFrame.
Keywords: Europe, EU, Insurance, IAIG, ComFrame, Solvency II, IAIS, EIOPA
Previous ArticleEC Consults on Establishment of Green Bond Standard in EU
FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).
BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.
FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.
EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.
ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).
HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.
APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.
PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).
US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).
US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.