G-Sii proposals signal acceleration of plans for global capital standard

But concerns about disjointed global accounting standards

Bank of England governor Mark Carney
Mark Carney, FSB chairman and Bank of England governor

New capital requirements for global systemically important insurers (G-Siis) unveiled by the International Association of Insurance Supervisors (IAIS) will lay the foundation for a global capital standard for all insurance groups.

But there are concerns about whether a global capital standard could be applied uniformly across all jurisdictions, despite efforts to converge accounting practices.

The IAIS released updated policy measures for the enhanced regulation of G-Siis on July 18, which

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