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27 Jun 2025
27 Jun 2025 in Other supervisory notes and reports, Supervisory and supporting material

Technical note – Explanatory text and examples on ICS

This document contains examples and explanatory text aimed to facilitate the understanding and implementation of the Insurance Capital Standard (ICS). Its content originates from the 2024 ICS data collection technical specifications, and should be read in conjunction with the ICS Level 1 and Level 2 texts. To facilitate that joint reading, the numbering of sections and subsections of this document follows the same structure as the ICS Level 1 and Level 2 texts.

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5 Dec 2024
5 Dec 2024 in Latest news, Press releases

IAIS adopts Insurance Capital Standard and other enhancements to its global standards to promote a resilient insurance sector

At its AGM today, the IAIS adopted the first comprehensive global capital standard for insurance supervision, the ICS, and also adopted important updates to existing qualitative global standards for insurance supervision, the ICPs and ComFrame, related to climate risk, recovery and resolution, and valuation and capital adequacy.

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5 Dec 2024
5 Dec 2024 in Other supervisory notes and reports

ICS economic impact assessment report

The ICS Economic Impact Assessment report, conducted ahead of the actual implementation of the ICS as a Prescribed Capital Requirement for IAIGs, is qualitative and delves into potential effects of the implementation of the ICS across jurisdictions, evaluating impacts on insurance products, investment policies, capital, and business models, assuming consistent implementation of ICS specifications.

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5 Dec 2024
5 Dec 2024 in Supervisory and supporting material

ICS Level 1 and Level 2 texts

The ICS provides a globally comparable risk-based measure of capital adequacy specifically tailored to internationally active insurance groups and forms the quantitative element of ComFrame. The specifics of the ICS have been adopted in two documents, the Level 1 document, setting out the overarching principles and concepts of the ICS, and the Level 2 document providing detailed specifications.

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14 Nov 2024
14 Nov 2024 in Latest news, Press releases

IAIS Executive Committee approves Insurance Capital Standard for adoption by IAIS members and concludes Aggregation Method comparability assessment

The IAIS Executive Committee has approved the final version of the global Insurance Capital Standard (ICS) as a prescribed capital requirement for internationally active insurance groups (IAIGs). The IAIS Executive Committee has also finalised the comparability assessment of the United States (US)-developed Aggregation Method (AM), concluding that a US AM provides a basis for implementation […]

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