The International Association of Insurance Supervisors (IAIS) has published its May 2025 newsletter setting out the agenda for its Executive Committee (ExCo) meeting on 18 June and Strategic Retreat on 19 June in Zurich. The Retreat will review progress on implementing the IAIS Strategic Plan 2025–2029, begin shaping priorities for the next annual work programme, launch a year-long project to assess how members access and use IAIS outputs, and review governance arrangements with a view to improving inclusion, simplicity and effectiveness. Across its June meeting, ExCo aims to finalise supervisory guidance on the use of artificial intelligence in the insurance sector, fair treatment of a wide range of consumer needs, and transitioning to risk-based solvency regimes. It will also review draft guidance on supervision of operational risk, including signing off a draft application paper on operational objectives and a toolkit for public consultation. On systemic risk monitoring, ExCo will review initial results from the 2025 Global Monitoring Exercise (GME), agree themes and the insurers in scope of supervisory discussions planned for the September IAIS meetings, and finalise the triennial GME methodology review for public consultation. For implementation assessment, ExCo will review the high-level principles for the Insurance Capital Standard (ICS) implementation assessment methodology and consider jurisdictional reports from the second Targeted Jurisdictional Assessment of Holistic Framework supervisory material covering Australia, Bermuda, Italy, Singapore, South Africa and Spain. Next milestones flagged include a July consultation on a draft Application Paper combining operational resilience objectives and a supervisory practices toolkit, and publication in July of the final Application Paper on the supervision of artificial intelligence. The public consultation on the draft Issues Paper on structural shifts in the life insurance sector remains open until 2 June 2025 at 24:00 CEST, and an interim update from the 2025 GME will be included in the 2025 mid-year Global Insurance Market Report to be published shortly after the September IAIS meetings.
International Association of Insurance Supervisors 2025-05-28
International Association of Insurance Supervisors outlines June Executive Committee priorities including operational resilience consultation and Insurance Capital Standard assessment work
The International Association of Insurance Supervisors (IAIS) has outlined its agenda for the June Executive Committee meeting and Strategic Retreat, focusing on the IAIS Strategic Plan 2025–2029 and governance improvements. Key initiatives include finalizing supervisory guidance on artificial intelligence in insurance, transitioning to risk-based solvency regimes, and reviewing systemic risk monitoring results. Upcoming milestones include a July consultation on operational resilience and publishing an Application Paper on artificial intelligence supervision.