Submission to IAIS re: Proposed Assessment Methodology for Identification of GSII'sRelease Date: 07/31/2012 Staff Reference: Steve Easson
July 31, 2012
Chair of the IAIS Executive Committee and the Financial Stability Committee
International Association of Insurance Supervisors
c/o Bank for International Settlements
CH-4002, Basel Switzerland
IAIS Proposed Assessment Methodology for Identification of GSII's
Dear Mr. Braumuller:
The Canadian Life and Health Insurance Association Inc. ("CLHIA") is a voluntary trade association whose member companies account for 99 percent of Canada’s life and health insurance business. Our industry provides a wide range of financial security products such as life insurance, annuities and supplementary health insurance to about 26 million Canadians.
We welcome the opportunity to provide input into the very important issue of the IAIS's proposed GSII assessment methodology and policy measures.
The CLHIA is an Observer of the IAIS and an active participant in the International Network of Insurance Associations ("INIA"). In addition to being a signatory to the INIA submission, we are sending this letter to emphasize certain key points in the INIA submission and also to offer some additional perspectives of our member companies operating in Canada.
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