ARTICLE · 29 JANUARY 2015

IAIS Completes Development Of Basic Capital Requirements And Begins Consultation On Global Insurance Capital Standard

Clyde & Co

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During the fourth quarter of 2014, the International Association of Insurance Commissioners (IAIS) made considerable progress towards its goal of developing global capital standards for the insurance industry.

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Martin Mankabady

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During the fourth quarter of 2014, the International Association of Insurance Commissioners (IAIS) made considerable progress towards its goal of developing global capital standards for the insurance industry. On October 23, 2014, the IAIS announced that it has concluded the development of the basic capital requirements (BCR) for global systemically important insurers (G-SIIs). On December 17, 2014, the IAIS announced that it has commenced a public consultation to help develop a risk-based global insurance capital standard (ICS), which will apply to internationally active insurance groups (IAIGs).

Background regarding IAIS's Development of Global Capital Standards

The IAIS is a voluntary organization with members consisting of insurance supervisors and regulators from more than 200 jurisdictions in approximately 140 countries. Its role is to be the global standards setting body for developing and helping with the implementation of principles and standards for

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