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International insurers get common minimum supervision under IAIS agreement

( November 14, 2019, 14:33 GMT | Official Statement) -- MLex Summary: Globally active insurers will face common supervisory minimum requirements, under plans agreed today by the International Association of Insurance Supervisors. During the five years from 2020, a new Insurance Capital Standard will enable supervisors to discuss solvency without triggering binding action, while a new framework will enable regulators to assess and mitigate systemic risks. The plans represent a "major step" toward a sound and consistent global regime, EU watchdog Gabriel Bernardino said in a statement.IAIS statement follows. Eiopa statement attached. ...

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