Trade associations blast ‘flawed’ Basic Capital Requirement

Insurance industry responds to IAIS consultation on key G-Sii measure


Insurance industry groups have condemned the Basic Capital Requirement (BCR) proposal for global systemically important insurers (G-Siis) as bankcentric and out of kilter with insurers' business models.

The International Association of Insurance Supervisors (IAIS) closed its second consultation on the BCR on August 8. A number of industry responses have been made publicly available, many expressing deep concerns with the proposal. Insurance Europe wrote that certain omissions could prove "fatal