The International Association of Insurance Supervisors (IAIS) has published an application paper on the supervision of climate-related risks in the insurance sector. This paper provides guidance on how the IAIS's existing insurance core principles (ICPs) can be applied to address climate-related risks. It aims to help supervisors integrate these risks into their practices, thereby strengthening the resilience of the global insurance sector. The paper covers various areas, including the role of supervisors, integration into supervisory frameworks, impact on valuation and investment practices, and the use of scenario analysis. The IAIS is set to host a webinar on 28 April 2025 to discuss the paper.

The International Association of Insurance Supervisors (IAIS) has developed Operational Resilience Objectives for the insurance sector, with the aim of providing a sound and consistent foundation to support supervisory authorities in developing and strengthening their approaches to supervising insurers’ operational resilience. Feedback on the document is invited by Friday 11 October 2024.

The International Association of Insurance Supervisors (IAIS) has published guidance for supervisors on transitioning to a risk-based solvency (RBS) regime. Developed in collaboration with the International Monetary Fund (IMF), the guidance outlines practical considerations for the design and implementation of an RBS regime, drawing on the experiences of several IAIS member jurisdictions. It notes that transitioning to an RBS regime is a medium- to long-term process and highlights the importance of adapting to jurisdiction-specific legal frameworks, supervisory capacity and stakeholder engagement. The document also addresses the organisational and cultural adjustments required within supervisory authorities and the insurance sector. A public webinar will be held on 26 June 2025 to present the guidance and answer questions.

The International Association of Insurance Supervisors (IAIS) Executive Committee has published high-level principles (HLPs) for developing the implementation assessment methodology for the Insurance Capital Standard (ICS). Adopted in December 2024, the ICS is a globally comparable, risk-based measure of capital adequacy for internationally active insurance groups and represents a key element of the IAIS Common Framework for the Supervision of IAIGs. The approved principles mark a crucial step in transitioning the ICS from its adoption phase to effective implementation. They will guide the development of jurisdictional assessments scheduled to commence in 2027, as well as the creation of a self-assessment questionnaire for jurisdictions to measure their progress in implementing the ICS in 2026.

The International Association of Insurance Supervisors (IAIS) has published a preview of the 2024 Global Monitoring Exercise results. Interim results indicate stable solvency, liquidity and profitability positions in 2023, with slight improvements compared to 2022. Aggregate systemic risk scores increased at year-end 2023, mainly driven by an increase in level 3 assets.

The International Association of Insurance Supervisors (IAIS) has published a consultation on proposed ancillary risk indicators for the global monitoring exercise (GME) to aid in assessing potential systemic risk in the global insurance sector. Responses are sought by3 February 2025. The IAIS plans to hold a public background session webinar on 11 December 2024 to present the consultation document and answer stakeholder questions.

The International Association of Insurance Supervisors (IAIS) has issued two publications showcasing work on digital innovation: a report on fintech developments in the insurance sector and a joint note with the Access to Insurance Initiative (A2ii) and the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS) on the role of supervisory technology (SupTech) in insurance supervision.

The International Association of Insurance Supervisors (IAIS) has published its roadmap for 2025-2026,marking the first under its new Strategic Plan 2025-2029. Following the adoption of the Insurance Capital Standard (ICS) at the end of 2024, the IAIS will focus on the comprehensive and globally consistent implementation of its standards. The roadmap outlines key projects and activities to support four core objectives: monitoring and responding to global insurance sector risks, setting and maintaining effective supervisory standards, supporting members through sharing good practices and capacity building, and assessing the implementation of global standards.

The International Association of Insurance Supervisors (IAIS) has published its updated Global Monitoring Exercise (GME) document along with a new report introducing ancillary risk indicators. The revised GME updates the systemic risk assessment methodology, while the ancillary indicators facilitate the monitoring of credit risk, derivatives and reinsurance and introduce amendments to the Insurance Liquidity Ratio (ILR).

The International Association of Insurance Supervisors (IAIS) has published its annual Global Insurance Market Report (GIMAR) for 2024, highlighting key risks and trends facing the global insurance sector. The report, derived from 59 major international insurance groups, indicates a 5.3% increase in systemic risk scores for participating insurers at the end of 2023, predominantly due to a rise in illiquid, hard-to-value assets.  However, the report found that overall, insurers’ systemic risk scores remained significantly lower than those of banks, indicating that the insurance sector has a lower systemic risk footprint.

The International Association of Insurance Supervisors (IAIS) has published its 2024 roadmap, covering a range of topics including climate risk; digital innovation; diversity, equity and inclusion (DEI); financial inclusion; operational resilience and cyber risk; and protection gaps. The IAIS has committed to urgently advance work to address the risks associated with climate change in 2024, and aims to deliver an updated, comprehensive application paper on climate risk as well as continuing to refine its data collection on this topic.

The International Association of Insurance Supervisors (IAIS) has published its strategic plan for the period 2025–2029. The plan emphasises three key strategic themes: climate change, digital innovation (including the use of artificial intelligence and cyber risks), and supporting the insurance sector in building societal resilience. IAIS will place increased focus on globally consistent implementation of its standards, including cross-jurisdictional assessments and support for effective supervisory practices. The organisation will continue examining and responding to key threats and trends facing the global insurance sector as well as maintain modifications to its annual risk assessment guidelines.