Global regulators have given themselves more time to bridge transatlantic differences that have delayed the world’s first capital rule for insurers, raising a cheer in the sector.
The International Association of Insurance Supervisors (IAIS) said its members have agreed in Kuala Lumpur on a “unified path to convergence” to further the “ultimate goal” of a single International Capital Standard (ICS).
The aim is to make it easier for investors to compare insurers from different countries by shedding light on their inner workings.
