Insurance Europe has called for more detail on the policy measures for Globally Systemically Important Insurers (G-SIIs) consulted on by the International Association of Insurance Supervisors’ (IAIS). It says a methodology for identifying systemically risky activities is needed. Only non-traditional non-insurance activities should be subject to segregation or account for higher loss absorbency requirements, and these measures should only be considered as a last resort. The Institute of International Finance (IIF) has also issued a statement in response to IAIS’s consultation where it shares Insurance Europe’s concerns over the potential introduction of blanket capital requirements to global insurers, which would reduce efficiency at risk pooling. (Source: Insurance Europe Response on Measures for G-SIIs and Leading Insurers Call for Careful Consideration of G-SIIs Proposals)
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Insurance Europe comments on G-SIIs proposals
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