Consultation: Application Paper on Group Corporate Governance

Public Consultation

Comment due by 1 May 2017 at 24:00 Basel time (Central European Summer Time)

Thank you for your interest in the Application Paper on Group Corporate Governance.

This Application Paper aims to provide good supervisory practices and examples to address challenges specific to the governance of insurance groups. The purpose of the Application Paper is also to create a common understanding amongst supervisors on how to assess or evaluate the governance frameworks of insurance groups. 

This Application Paper relies on the main conclusions of the October 2014 IAIS Issues Paper on Group Corporate Governance; Impact on Control Functions and provides supervisory responses and best supervisory practices for the five main areas where insurance groups face challenges as identified in the Issues Paper: setting objectives and strategies; allocation of oversight and management responsibilities; policies and processes; risk management and compliance; and Control Functions.

As an Application Paper, this paper represents IAIS supporting material and as such does not set requirements. It provides additional material related to ICPs, such as examples that may help practical application of IAIS supervisory material.

A public background call will be held via teleconference on 20 March 2017 to discuss the draft Application Paper and receive public feedback. Click here for details.

The IAIS is now seeking feedback on this draft Application Paper through public consultation. Feedback on this consultative document is invited by 1 May 2017 at 24:00 Basel time. Only comments submitted via the Tool will be considered. Feedback received by this deadline will enable the IAIS to further develop the paper for finalisation. After this deadline, the Consultation Tool will be closed and it will no longer be possible to submit any further comments.