Publication of two thematic notes supporting the transition to risk-based solvency (RBS) regimes

The IAIS today has published two thematic notes aimed at supporting the transition to a risk-based solvency (RBS) regime. These notes serve as supplementary material to the IAIS’ Guidance on transitioning to an RBS regime, which was published in June 2025. The thematic notes provide practical insights and considerations for both supervisors and stakeholders undertaking this transition. 

Thematic note on how to build an RBS regime using an ORSA as a basis
The first thematic note explores how an own risk and solvency assessment (ORSA) can serve as the basis for a risk-based solvency regime. It provides a comprehensive summary of the key objectives and common descriptions of an ORSA. Additionally, the note outlines considerations for leveraging an ORSA to develop an RBS framework, offering practical steps for implementation. Lessons learnt from jurisdictions that have already implemented ORSA regimes are also shared, providing valuable guidance for members embarking on this journey. The thematic note on how to build a risk-based solvency (RBS) regime using an own risk and solvency assessment (ORSA) as a basis, can be accessed here. 

Thematic note on the implications of IFRS for RBS implementation
The second thematic note focuses on the implications of International Financial Reporting Standards (IFRS) in implementing a risk-based solvency regime. It describes some of the key features of IFRS 17 and IFRS 9, which are the most relevant IFRS standards for insurers, and sets out the pros and cons of using IFRS-based valuation for RBS purposes. The note also sets out some of the accounting policy choices available, how these might be handled and the interlinkages between IFRS, solvency reporting and capital requirements. The thematic note on implications of IFRS for RBS implementation can be accessed here. 

Both thematic notes are intended as practical tools for IAIS members and stakeholders as they navigate the complexities of transitioning to an RBS regime. They provide further guidance on foundational elements, such as ORSA, and explore the interaction between accounting standards and solvency regimes. Member-only versions of these notes were published in March 2026, with additional examples and reference material for IAIS members, available here (Member extranet login needed). 

The IAIS will host a public webinar on Monday, 28 September 2026, 13:00-14:00 CEST to present the thematic note on ORSA and a public webinar on 9 December 2026 to present the thematic note on IFRS. Registration for both will open soon. 

These publications contribute to the IAIS’ efforts to equip its members with the tools and knowledge necessary for strengthening their regulatory and solvency frameworks, and advance on their observance of the Insurance Core Principles (ICPs) to support globally effective and consistent supervision of the insurance sector.