IAIS Supervisory Standard on disclosures concerning investment risks and performance for insurers and reinsurers
21 October 2005
The International Association of Insurance Supervisors (IAIS) issued a Supervisory Standard on disclosures concerning investment risks and performance for insurers and reinsurers, the second of three standards which the IAIS is issuing regarding public disclosure requirements on insurers and reinsurers. The purpose of the standard is to enhance market transparency and to facilitate market discipline by setting minimum disclosure requirements on investment risks and performance for insurers and reinsurers. Insurance supervisors are called to set disclosure requirements that are consistent with this standard, or encourage the relevant standard-setting body to do so.
An insurance company should disclose information that reflects the risks it is exposed to through its investment activity. This standard therefore requires disclosures in:
investment objectives, policies and management
risk exposure
asset class segregation, description and profiling
performance measurement.
A Standard on disclosures concerning technical performance and risks for life insurers is scheduled to be released in 2006/7.
Document
© IAIS - International Association of Insurance Supervisors
