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GFIA response to the IAIS public consultation on risk-based global insurance capital standard (ICS)


Release Date: 02/16/2015
Staff Reference: Janice Hilchie

The GFIA hopes that the IAIS finds this submission helpful in highlighting the many points of commonality in the insurance industry's thinking around the world. At the same time, many jurisdictions are starting from very diverging positions in this process, and the GFIA recognises that reaching consensus on some areas, most notably valuation, remains a significant challenge. This is a result of the differences across jurisdictions in terms of both markets and capital regimes.