The International Association of Insurance Supervisors (IAIS) has approved a work plan for the development of approaches for the monitoring of group structures, group business mix and intra-group transactions. The aim of the plan is to put all international insurance groups on a similar supervisory footing.
The IAIS framework will establish both qualitative and quantitative requirements and will provide a platform for supervisory cooperation.
A concept paper is due to be published in the first half on 2011.
For further information: IAIS approve group supervisory work plan