IAIS capital standards may be more onerous
Monday, 10 24 2016, Category: Insurance and Reinsurance, Country: World
Ongoing efforts by the International Association of Insurance Supervisors (IAIS) to devise an international set of capital standards will require a delicate balancing act between the re/insurance industry and local regulatory bodies and jurisdictions, Brad Kading, president of the Association of Bermuda Insurers and Reinsurers (ABIR), told PCI Today.
He noted that IAIS is looking to impose capital standards which, in some cases, may differ from those of local regulators, risking confusion for companies in the process.
“The challenge for IAIS capital standards is to recognise that many jurisdictions in the world already have their own group capital requirements in place today,” Kading said.
Source: Intelligent Insurer