Supervisory colleges win global support

Solvency II started the ball rolling but colleges are expanding

International insurance regulators have adopted new guidance to help in their supervision of global insurance businesses through the formation of colleges. At its recent meeting, the International Association of Insurance Supervisors (IAIS) won approval for the guidance on supervisory colleges in the group-wide supervision of insurance firms following calls from the G20 for supervisors to work closer together in their regulation of cross-border insurance groups and banks.