Aspirations and realities: Gauging the impact of the ICS on capital management

This is the second in our series of perspectives looking at the implications of the planned new risk-based International Capital Standard (ICS) being developed by the International Association of Insurance Supervisors (IAIS) for global systemically important insurers (G-SIIs) and a broader group of internationally active insurance groups (IAIGs).

The IAIS has set ambitious goals for the ICS (Principles 1-104) as it looks to strengthen policyholder protection, financial stability worldwide and introduce a globally comparable risk-based measure of capital adequacy. So if a new ICS is coming, what is the likely impact? In this paper, we look at how much will change and how this will affect capital management within your business.

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Mark Train
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