Insurance Capital Standard
E698600
The Insurance Capital Standard is a global regulatory framework that sets risk-based capital requirements for internationally active insurance groups to promote financial stability and policyholder protection.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
global insurance capital framework
ⓘ
prudential regulatory standard ⓘ risk-based capital standard ⓘ |
| abbreviation | ICS NERFINISHED ⓘ |
| aimsFor | comparability of capital outcomes across jurisdictions ⓘ |
| appliesTo | internationally active insurance groups ⓘ |
| coversRiskType |
credit risk
ⓘ
insurance risk ⓘ market risk ⓘ operational risk ⓘ underwriting risk ⓘ |
| designFeature |
allowance for diversification benefits across risks
ⓘ
capital adequacy ratio based on qualifying capital resources ⓘ economic risk-based valuation approach ⓘ market-consistent valuation of assets and liabilities ⓘ prescribed risk charges ⓘ standard method for calculating required capital ⓘ |
| developedBy | International Association of Insurance Supervisors NERFINISHED ⓘ |
| developerAbbreviation | IAIS NERFINISHED ⓘ |
| embeddedIn | Common Framework for the Supervision of Internationally Active Insurance Groups NERFINISHED ⓘ |
| fullName | Insurance Capital Standard for Internationally Active Insurance Groups NERFINISHED ⓘ |
| isPartOf | international financial regulatory architecture ⓘ |
| objective |
enhance policyholder protection
ⓘ
improve comparability of capital adequacy across insurance groups ⓘ limit regulatory arbitrage in insurance supervision ⓘ promote global financial stability ⓘ provide a common language for supervisory discussions of group solvency ⓘ |
| policyGoal |
create a level playing field for internationally active insurance groups
ⓘ
harmonize solvency assessment across jurisdictions ⓘ reduce risk of insurer failure with systemic impact ⓘ support cross-border supervision and cooperation ⓘ |
| regulatoryPillar |
qualifying capital resources criteria
ⓘ
quantitative capital requirements ⓘ valuation principles for assets and liabilities ⓘ |
| regulatoryType | group-wide consolidated capital standard ⓘ |
| relatedConcept |
ComFrame
NERFINISHED
ⓘ
global insurance capital standards ⓘ group-wide supervision ⓘ |
| relatedStandard |
Risk-Based Capital frameworks
ⓘ
Solvency II NERFINISHED ⓘ |
| riskMeasure | risk-based capital requirement ⓘ |
| scope | global ⓘ |
| sector |
financial stability policy
ⓘ
insurance regulation ⓘ |
| stakeholder |
global financial stability authorities
ⓘ
insurance supervisors ⓘ internationally active insurance groups ⓘ policyholders ⓘ |
| supervisoryUse |
group-wide solvency assessment
ⓘ
macroprudential surveillance of insurance sector ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.