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The International Association of Insurance Supervisors (IAIS) has developed a framework of policy measures for G-SIIs in line with the Financial Stability Board (FSB) recommendations. The framework includes measures for enhanced supervision, effective resolution and higher loss absorbency. The foundation for G-SII policy measures is the existing IAIS Insurance Core Principles.
The FSB’s Supervisory Intensity and Effectiveness recommendations form the basis for the IAIS’ approach to enhanced supervision. In addition, the IAIS Common Framework for the Supervision of Internationally Active Insurance Groups, which aims to foster convergence of regulatory and supervisory measures, will serve as a baseline for applying supplemental supervisory measures to address the systemic risks of a G-SII.