High-level principles for the development of the ICS implementation assessment published

The Executive Committee of the International Association of Insurance Supervisors (IAIS) has agreed the high-level principles (HLPs) for the development of the Insurance Capital Standard (ICS) implementation assessment methodology.

Adopted in December 2024, the ICS provides a globally comparable, risk-based measure of capital adequacy for internationally active insurance groups (IAIGs) and forms the quantitative element of the Common Framework for the Supervision of IAIGs (ComFrame). It serves as a group-wide prescribed capital requirement, representing a solvency control level below which supervisors will intervene on group capital adequacy grounds.

The approval of the HLPs marks a critical step in transitioning the ICS from adoption to effective implementation. The HLPs will guide both the development of the ICS implementation assessment methodology, ahead of the IAIS jurisdictional assessments that are aimed to start in 2027, and the development of a self-assessment questionnaire that jurisdictions will use to measure their ICS implementation progress in 2026.

Read the HLPs here.

Read the accompanying explanatory note here.

Learn more about the ICS here.