International Actuarial Association submits response to IAIS recovery and resolution consultation and starts drafting input on IASB IFRS 9 and IFRS 7 proposals

The International Actuarial Association (IAA) reported that it has submitted feedback to the International Association of Insurance Supervisors (IAIS) on draft revised Application Papers on recovery and resolution, and that it plans to respond to the International Accounting Standards Board’s (IASB) consultation on proposed amendments to IFRS 9 and IFRS 7 introducing a new interest rate risk accounting model. The IAIS submission was developed by the IAA’s Insurance Regulation Committee. For the IASB consultation, the Insurance Accounting Committee will draft the IAA’s response under the IAA due process, with member associations asked to provide input through their committee representatives; associations without a member or observer can nominate an observer to the drafting group by 31 March 2026. The IASB consultation is open until 31 July 2026, and the IAA expects to submit its final response on or before that date, subject to committee approval. Separately, the IAA highlighted its participation in IOPS and OECD Working Party on Insurance and Pensions meetings and the International Pension Research Association conference during OECD Financial Markets Week in Paris, representation at the Global Conference of Actuaries in Mumbai, and a programme of outreach and webinars including sessions on responsible and explainable artificial intelligence applications in actuarial work.