International capital standards expected to merge, say insurers
Insurers are working on the assumption that standards will be harmonised, as the IAIS blurs the boundaries between the ComFrame and G-Sii processes
The converging work of the International Association of Insurance Supervisors (IAIS) on two international capital standards is leading insurers to question whether one standard will eventually replace the other, raising concerns about the care being taken by the IAIS over the first of the standards to come into effect.
The consensus view among insurers, based on an IAIS feedback report issued on March 21, is that the basic capital requirement (BCR) for global systemically important insurers (G
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