The Executive Committee of the International Association of Insurance Supervisors (IAIS) has agreed high-level principles (HLPs) for developing the methodology to assess implementation of the Insurance Capital Standard (ICS). The ICS, adopted in December 2024, is a globally comparable, risk-based group capital standard for internationally active insurance groups (IAIGs) and the quantitative element of the Common Framework for the Supervision of IAIGs (ComFrame). It is intended to act as a group-wide prescribed capital requirement and a solvency control level that would trigger supervisory intervention on group capital adequacy grounds. The HLPs are intended to guide development of the ICS implementation assessment methodology ahead of IAIS jurisdictional assessments that are aimed to start in 2027, as well as a self-assessment questionnaire for jurisdictions to measure implementation progress in 2026.
International Association of Insurance Supervisors 2025-07-02
International Association of Insurance Supervisors agrees high-level principles to develop the Insurance Capital Standard implementation assessment
The International Association of Insurance Supervisors' Executive Committee has set principles for developing the methodology to assess the Insurance Capital Standard (ICS) implementation. Adopted in December 2024, the ICS is a globally comparable, risk-based group capital standard for internationally active insurance groups. These principles will guide the ICS implementation assessment methodology, with jurisdictional assessments starting in 2027 and a self-assessment questionnaire in 2026.