Triple

Given a phrase, classify it is english named entity (e.g., persons, organizations, works of art) in Latin script, or not (e.g., literals, dates, URLs, verbose phrases). For disambiguation, the statement where the phrase occurs as object is also given. Please return a JSON object with `phrase` (string, the phrase being analyzed) and `is_ne` (boolean, indicating whether the phrase is a Named Entity).

Phrase: Common Framework for the Supervision of Internationally Active Insurance Groups | Statement: [International Association of Insurance Supervisors, standard, Common Framework for the Supervision of Internationally Active Insurance Groups]

Target entity: Common Framework for the Supervision of Internationally Active Insurance Groups
Context triple: [International Association of Insurance Supervisors, standard, Common Framework for the Supervision of Internationally Active Insurance Groups]

• A. Solvency I regime
  The Solvency I regime was the earlier European Union insurance regulatory framework that set basic capital adequacy and solvency requirements for insurers before being replaced by the more risk-sensitive Solvency II system.
• B. Solvency II Directive
  The Solvency II Directive is a European Union regulatory framework that sets risk-based capital, governance, and reporting requirements for insurance and reinsurance companies operating in the EU.
• C. International Association of Insurance Supervisors
  The International Association of Insurance Supervisors is a global standard-setting body that develops principles, guidance, and frameworks to promote effective and consistent supervision of the insurance sector worldwide.
• D. Act on Non-Life Insurance Rating Organizations of Japan
  The Act on Non-Life Insurance Rating Organizations of Japan is a Japanese law that regulates the establishment and operation of rating organizations that calculate and provide standard premium rates for non-life insurance.
• E. Third Non-Life Insurance Directive
  The Third Non-Life Insurance Directive was an EU legislative measure that harmonized rules for non-life (general) insurance business across member states before being superseded by the Solvency II regime.
• F. None of above. chosen
• G. Unsure - the case is ambiguous/there is not enough information to decide.

Generate a one-sentence description of the target entity. 
You are given a context triple in the form (subject, predicate, object), where the object is the target entity. 
# Instructions
Use the triple to infer relevant information about the entity. Describe the entity based on what is most defining, well-known. 
Avoid repeating the information from the triple, unless really essential.
# Response Format
Return only the sentence: "Description: [one-sentence description of the target entity]"

Entity: Common Framework for the Supervision of Internationally Active Insurance Groups
Triple: [International Association of Insurance Supervisors, standard, Common Framework for the Supervision of Internationally Active Insurance Groups]

The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) is a globally agreed supervisory framework that sets consistent standards and guidance for the regulation and oversight of large cross-border insurance groups.

Target entity: Common Framework for the Supervision of Internationally Active Insurance Groups
Target entity description: The Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) is a globally agreed supervisory framework that sets consistent standards and guidance for the regulation and oversight of large cross-border insurance groups.

• A. Solvency I regime
  The Solvency I regime was the earlier European Union insurance regulatory framework that set basic capital adequacy and solvency requirements for insurers before being replaced by the more risk-sensitive Solvency II system.
• B. Solvency II Directive
  The Solvency II Directive is a European Union regulatory framework that sets risk-based capital, governance, and reporting requirements for insurance and reinsurance companies operating in the EU.
• C. International Association of Insurance Supervisors chosen
  The International Association of Insurance Supervisors is a global standard-setting body that develops principles, guidance, and frameworks to promote effective and consistent supervision of the insurance sector worldwide.
• D. Act on Non-Life Insurance Rating Organizations of Japan
  The Act on Non-Life Insurance Rating Organizations of Japan is a Japanese law that regulates the establishment and operation of rating organizations that calculate and provide standard premium rates for non-life insurance.
• E. Third Non-Life Insurance Directive
  The Third Non-Life Insurance Directive was an EU legislative measure that harmonized rules for non-life (general) insurance business across member states before being superseded by the Solvency II regime.
• F. None of above.