Key takaways

• The International Association of Insurance Supervisors released its public consultation document on a group-wide, consolidated risk-based insurance capital standard (the “ICS”) on December 17, 2014.
• The consultation proposes a market-adjusted valuation approach to the calculation of the ICS.
• The consultation invites feedback by February 16, 2015 on key issues, including the valuation methodology, qualifying capital resources and risks included in the insurance capital requirement.