Insurers ask for clarity on global capital standards

National supervisors and policy-makers join in voicing concerns

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Doubts were raised at Insurance Europe's annual conference

Insurance groups and national supervisors have criticised global standard-setters for a lack of clarity on the purpose and calibration of proposed international capital requirements. At the annual conference of trade association Insurance Europe in Malta on June 12, a panel of experts voiced their frustration at the manner in which the International Association of Insurance Supervisors (IAIS) is developing the basic capital requirement (BCR) for global systemically important insurers (G-Siis)