09 October 2013 - "The GFIA notes today's announcement by the IAIS about its development of a global risk-based capital standard. The GFIA is committed to working with the IAIS to ensure that the IAIS's work leads to a standard that is suitable and workable for the industry. It is important that any capital standard reflects the nature of the insurance business and is not simply the adoption of a capital standard from another sector. The GFIA will be seeking more clarity and detail from the IAIS in the coming days about its intentions and workplan."
Frank Swedlove, chair, GFIA