IAIS - International Association of Insurance Supervisors

🎥 ICYMI: Jonathan Dixon, #IAIS Secretary General, shares the final video in our #ICSExplained series. This edition focuses on #Implementation of the Insurance Capital Standard (#ICS); particularly high-level timelines, the approach and methodology, and the Aggregation Method (#AM) being developed by the United States as an outcome equivalent approach. 📽Watching time: 5 minutes ▶Link to the video: https://lnkd.in/eU6ZpfrZ  ▶Watch the series: https://lnkd.in/ektpzV2d #IAIS2024 #IAISNews #Insurance #InsuranceNews #InsuranceSupervisor #InsuranceIndustry #InsuranceSector #FinancialStability #SupervisoryPractice #IAISICS #AggregationMethod #ICSExplained

🎥 ICYMI: Check out the second video in our #ICSExplained series. Romain Paserot, #IAIS Deputy Secretary General, shares the multi-year, data intensive and collaborative approach taken to develop the global standard for capital adequacy, making the Insurance Capital Standard (#ICS) one of the most tested quantitative #CapitalStandards in the history of the #FinancialSector. 📽Watching time: 5 minutes ▶Link to the video: https://lnkd.in/dH_nSU6m  ▶Watch the series: https://lnkd.in/ektpzV2d #IAIS2024 #IAISNews #Insurance #InsuranceNews #InsuranceSupervisor #InsuranceIndustry #InsuranceSector #FinancialStability #SupervisoryPractice #IAISICS #AggregationMethod #ICSExplained

🎥 ICYMI: Have you watched the #IAIS mini-series entitled #ICSExplained? If not, check out the first video by IAIS Executive Committee Chair Shigeru Ariizumi. 🌐 The case for a global Insurance Capital Standard (#ICS) sets the stage, explaining how the ICS will fit into the IAIS’ existing suite of standards and what benefits it will unlock for the global #FinancialSystem. 📽Watching time: 5 minutes ▶Link to the video: https://lnkd.in/dw9Vqu6p  ▶Watch the series: https://lnkd.in/ektpzV2d #IAIS2024 #IAISNews #Insurance #InsuranceNews #InsuranceSupervisor #InsuranceIndustry #InsuranceSector #FinancialStability #SupervisoryPractice #IAISICS #AggregationMethod #ICSExplained

📣 The #IAISNewsletter covering July and August is now online. In July, the IAIS hosted its largest stakeholder event of the year, the #IAISGlobalSeminar, for the first time virtually. This edition also shares key takeaways and reflects on proven benefits of this new format. Other news from the Basel summer include: 🔷 Plans ahead of Insurance Capital Standard (#ICS) scheduled adoption in December, including launch of #ICSExplained mini-series 🔷 Open #PublicConsultations on #OperationalResilience, #DEI and #Climate, plus public background session replays 🔷 A number of events relevant for members and stakeholders, such as the Global Monitoring Exercise (#GME) Roundtable 🔷 Updates on member-only #FSIConnect and #Renumeration resources Read the full newsletter for more details. 📰 Download the newsletter: https://lnkd.in/ejnsfECm ➡ Visit our website: https://www.iaisweb.org/ #IAIS2024 #IAISNews #Insurance #InsuranceNews #InsuranceSupervisor #InsuranceIndustry #InsuranceSector #FinancialStability #IAISEvents #SupervisoryPractice #IAISNewsletter #IAISGlobalSeminar2024

🌐 The Insurance Capital Standard (#ICS) represents a significant evolution in the supervision of Internationally Active Insurance Groups (#IAIGs). Ahead of #ICS adoption at the #IAIS Annual General Meeting in Cape Town in December, there is still work to be done in parallel. A key remaining IAIS project is an #Assessment of whether the Aggregation Method being developed by the US can produce comparable outcomes to the ICS, and hence be considered an outcome-equivalent approach for the implementation of the ICS as a prescribed capital requirement (#PCR). Read more about the next steps of the two projects in the article of Jonathan Dixon, IAIS Secretary General. #IAIS2024 #IAISNews #InsuranceSector

🎥 Watch the webinar replay of the public background session on the IAIS’ fourth consultation on #ClimateRisk: https://lnkd.in/eS7r_R2R 🌐 The #IAIS is currently consulting on new supporting material on #Climate risk, aimed at promoting a globally consistent supervisory approach to address climate-related risks in the #InsuranceSector. 🔷 #Climatechange is a key strategic theme for the IAIS as it is a source of #FinancialRisk impacting the resilience of individual insurers and could lead to #FinancialStability risk. 🔷 This fourth consultation on climate risk in the insurance sector includes proposed new supporting material to better reflect climate-related risk as part of effective supervisory practice. It covers issues related to supervisory #Reporting and public #Disclosure plus #Macroprudential considerations and supervisory cooperation. 👉 Learn more about the #PublicConsultation: https://lnkd.in/eNTXrGzb 📖 Read more about our work on climate risk: https://lnkd.in/eTfbbNqQ #IAIS2024 #InsuranceNews #IAISConsultation

📣 Register now! The #IAISAnnualConference2024 will take place in person on 5-6 December in Cape Town, South Africa. 🌐 The theme of this year’s conference is “Licence to operate: the role of insurance in supporting societal resilience”. The Executive Committee Townhall will share progress on key projects such as the finalisation and implementation of Insurance Capital Standard (#ICS) and discuss the outcome of the comparability assessment of the Aggregation Method (AM). 🔷 Subsequent panels focus on risks in the global #InsuranceSector, drawing on conclusions from our Global Monitoring Exercise (#GME), as well as our work on #Diversity, #Equity and #Inclusion (#DEI) and on the societal role of #Insurance. 🔷 A “View from the C-Suite” provides an opportunity for CEOs to discuss key challenges the sector is currently facing. Several roundtables are planned to seek member and stakeholder feedback on IAIS initiatives. 👉 View the full programme: https://lnkd.in/ecdYhHNP ✏️ Register now! https://lnkd.in/eCEjsWAy ❗For IAIS members, kindly note that the Annual Conference will be preceded by committee meetings and the Annual General Meeting. View the full programme for members only on the IAIS Members Extranet (login required): https://lnkd.in/epHesTQk A special thank you to the FSCA South Africa and the Prudential Authority within the South African Reserve Bank for hosting the event. #IAIS2024 #InsuranceNews #InsuranceIndustry

The #IAIS will hold a public background session on the Draft Application Paper on Operational Resilience Objectives [and Toolkit] which is open for consultation.  📅 10 September 2024   ⏰ 14:00-15:00 (CEST) ✍ Register now! https://lnkd.in/eSWqxYwn 📑 Learn more about the public consultation: https://lnkd.in/e4buU3Qj 📝 Use the consultation tool to provide comments: https://lnkd.in/evfFdn8q #IAIS2024 #IAISConsultation #InsuranceNews #Insurance #InsuranceSupervisor #ApplicationPaper

🌐 Earlier this week, #IAIS Secretary General Jonathan Dixon and Head of Capital and Solvency Romain Paserot provided an update on the IAIS’ work programme at a Q&A session of the Summer Meeting of the National Association of Insurance Commissioners (NAIC) in Chicago, where they engaged with a range of stakeholders including supervisors and industry representatives. They shared insights from the Global Insurance Market Report (GIMAR) mid-year update, reported on the ongoing work towards adaptation of the Insurance Capital Standard (ICS) and comparability, and informed about the IAIS Strategic Plan 2025-2029. 👉 Read about the #GlMAR mid-year update: https://lnkd.in/eASXZUfv 👉 Learn more about the #ICS: https://lnkd.in/ektpzV2d #IAIS2024 #IAISNews #InsuranceSector #Insurance

We are pleased to announce the appointment of Marie Therese Bitterlich as Senior Policy Advisor – Stakeholder Engagement and Outreach. Marie-Therese will have a key role in further enhancing the impact and reach of the #IAIS through stakeholder engagement, institutional coordination and our milestone events such as the IAIS Global Seminar and IAIS Annual Conference. She joins us from the European Central Bank (ECB), where she has held several positions within strategic communications, including serving as Press Officer to the Executive Board. Marie-Therese holds a master’s degree in Political Economy from The London School of Economics and a bachelor’s degree in International Relations from Richmond American International University London. 👉 Visit our website to learn more about the IAIS: https://www.iaisweb.org/ #IAIS2024 #IAISNews #IAISLeaders #InsuranceNews #InsuranceIndustry