IAIS Issues Consultation on Global Insurance Capital Standard
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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.