The International Association of Insurance Supervisors set out how it will operationalise its Strategic Plan for 2025-2029, with a stronger emphasis on stakeholder engagement as it pivots from an intensive period of standard setting towards implementation of effective supervisory practices. The update also announced a member-only Insurance Capital Standard (ICS) Q&A tool to support technical clarification as members move into the implementation phase following ICS adoption in December 2024. Stakeholder engagement will be expanded in financial stability work through the Global Monitoring Exercise (GME), the IAIS framework that draws on data from around 60 of the largest international insurance groups and aggregate supervisory data covering 90% of global written premiums, with outcomes reported annually to the Financial Stability Board and highlights published in the Global Insurance Market Report at year-end with a mid-year preview in July. A new Chief Economist roundtable has been added to the GME engagement format, bringing supervisors, industry and third parties together to discuss issues including geopolitical fragmentation, the changing credit universe and artificial intelligence. On broader policy engagement, the IAIS will support the G20 Sustainable Finance Working Group on natural catastrophe insurance protection gaps and develop practical guidance, building on its November 2023 call to action that set out supervisory actions addressing insurance affordability, availability and take-up. Further financial stability discussions with stakeholders are planned later in 2025 through additional roundtables and the IAIS Global Seminar and Annual Conference. A public background call on the development of ComFrame material for ICS supervisory reporting and public disclosure requirements is scheduled for 28 February.

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