The International Association of Insurance Supervisors (IAIS) published its November newsletter highlighting governance changes agreed around its Tirana Annual Conference and Annual General Meeting, alongside new consultations and monitoring updates. Toshiyuki Miyoshi was elected as Executive Committee Chair through November 2027, and members approved by-law amendments that replace the current Macroprudential, Policy Development and Implementation and Assessment Committees with new Monitoring and Risk Assessment, Standards and Supervisory Practices, and Implementation Assessment Committees from 1 January 2026. Two public consultations were launched: one on Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) material to support implementation of the Insurance Capital Standard (ICS) by setting supervisory reporting and public disclosure requirements for internationally active insurance groups, and another on revised Application Papers on recovery planning and on resolution powers, preparation and plans. The IAIS also published updates to its Holistic Framework toolkit, including a revised Global Monitoring Exercise methodology for calculating individual insurers’ systemic footprints and a new set of ancillary indicators covering credit risk, derivatives and reinsurance, with amendments to the Insurance Liquidity Ratio, while the Financial Stability Board reaffirmed it will use the IAIS Holistic Framework for systemic risk assessment and mitigation in insurance. Other outputs included a final issues paper on structural shifts in the life insurance sector, introducing a principles-based classification of alternative assets and outlining risks linked to higher alternative asset allocations and cross-border asset-intensive reinsurance, and a 2025 Global Insurance Market Report special topic edition on the financial stability implications of natural catastrophe insurance protection gaps. Comments are due by 5 February 2026 for the ICS-related ComFrame package and by 25 February 2026 for the recovery and resolution application papers; the IAIS also signposted the release of its main 2025 Global Insurance Market Report in early December, the start of an ICS Baseline Self-Assessment in early 2026, and publication of a 2026-2027 Roadmap in January.
International Association of Insurance Supervisors 2025-11-01
International Association of Insurance Supervisors confirms new committee structure for 2026 and consults on ICS reporting and recovery and resolution guidance
The International Association of Insurance Supervisors (IAIS) announced governance changes, including electing Toshiyuki Miyoshi as Executive Committee Chair and restructuring key committees effective January 2026. Two public consultations were launched on the Common Framework for the Supervision of Internationally Active Insurance Groups and revised Application Papers on recovery planning and resolution powers. Updates to the Holistic Framework toolkit were published, and the Financial Stability Board will continue using it for systemic risk assessment in insurance.