Insight and Intelligence on the London & International Insurance Markets 18 Mar 2018
Insurance Capital Standard will miss timetable: ABIís Savill
- 6 March 2018
The new global capital framework for insurers is likely to be delayed beyond the planned late-2019 introduction date, according to the Association of British Insurers (ABI)'s director of regulation Hugh Savill.
The Switzerland-based International Association of Insurance Supervisors (IAIS) began consulting on the Insurance Capital Standard (ICS) over three years ago. In November its members agreed to a two-phase introduction after revised draft guidelines are released in 2019.
The process will begin with a five-year monitoring phase, which will be...
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