KPMG have just kicked off what I hope will be a regular release on Evolving Insurance Regulation. Quite weighty at 60+ pages, so just skip to you favourite bits.
It draws attention to the forthcoming adoption of the IAIS's Insurance Core Principles (expected Oct 2011). When I first saw these back in Oct 2010 I was stunned at how little divergence there was from Solvency II content (indeed in areas of capital adequacy, Internal Models, ORSA and Governance the two are almost verbatim!). That potentially gives the worldwide insurance industry something approaching a level playing field (even if the EU can find arbitrage opportunities in their neighbours back yards!).
That is of course with the exception of the States, who have the Solvency Modernisation Initiative - I have no familiarity with this whatsoever, so might give it the once over...
An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
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