IAIS keeps options open with first proposals for global standard

Standard-setter defers decision on valuation basis

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The International Association of Insurance Supervisors (IAIS) has fired the starting gun in the race to design the world's first global capital standard for internationally active insurers.

On December 17, the IAIS published its first of three promised public consultations on an insurance capital standard (ICS). The ICS is intended to be a consolidated group-wide standard and measure of capital adequacy for both internationally active insurance groups (IAIGs) and global systemically important in