On 22 September 2014, the International Association of Insurance Supervisors (IAIS) released an updated version of its Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame). ComFrame is a set of requirements focussed on the group-wide supervision of internationally active insurance groups. The IAIS is also developing a risk based global insurance capital standard (ICS) which is to be included within ComFrame. On 12 September 2014, the IAIS published its ICS Principles which will be followed in the development of ICS. An important step in the development of ICS is the development of higher loss absorbency requirements; and, on 23 September 2014, the IAIS published the Principles which will be followed in the development of higher loss absorbency requirements for global systemically important insurers.