International capital standards expected to merge, say insurers

Insurers question whether one standard will eventually replace another

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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 (