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ARTICLE · 20 NOVEMBER 2013

Global Corporate Insurance & Regulatory Bulletin - October 2013

Mayer Brown
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On 9 October 2013 the International Association of Insurance Supervisors announced its commitment to developing global insurance capital standards by 2016.

GlobalInsurance
David Alberts
David Alberts
Lawrence Hamilton
Lawrence Hamilton
Colin Scagell
Colin Scagell
Vikram Sidhu
Vikram Sidhu
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Keywords: IAIS, global insurance capital standard, ASEAN 2015, EIOPA Solvency II Guidelines, NAIC List of Qualified Jurisdictions

GLOBAL

Global – IAIS Commits To Develop A Global Insurance Capital Standard By 2016

On 9 October 2013 the International Association of Insurance Supervisors (IAIS) announced its commitment to developing global insurance capital standards by 2016. It hopes the new rules will be ready for testing in 2017.

The rules will provide that insurance groups with an active international presence must adhere to a risk-based global insurance capital standard.

The new rules, which would represent the first time a standard has been rolled out globally will form part of the ComFrame which is the IAIS blueprint for supervising international insurers.

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