International Solvency (EX) Working Group
International Solvency (EX) Working Group
Executive (EX) Committee Task Forces and Working Groups Summary Report
Winter 2009 Meeting Summaries Index

The International Solvency (EX) Working Group met Dec. 3, 2009. During this meeting, the Working Group:

• Released two documents for comment: "Consultation Paper on Regulatory Capital Requirements and Overarching Accounting/Valuation Issues" and "Consultation Paper on Corporate Governance and Risk Management." Comments are requested by March 1, 2010.
• Made tentative plans to have an interim meeting March 11-12, 2010, in Phoenix.
• Met jointly with the International Association of Insurance Supervisors (IAIS) Solvency and Actuarial Issues Subcommittee. Discussion centered on enterprise risk management (ERM) and own risk and solvency assessment (ORSA) requirements implemented or proposed throughout the world. After Mary Miller (OH) explained the U.S. risk-focused surveillance process, Trevor Cooke (United Kingdom) described the IAIS ERM and ORSA requirements, and Helen Rowell (Australia), Bernard Dupont (Canada), Thorston Pfeiffer (Switzerland) and Rob Curtis (United Kingdom) presented the implementation of the IAIS requirements in their countries.
• Adopted the Working Group's Oct. 28 minutes, which included comments sent to the IAIS Solvency and Actuarial Issues Subcommittee on numerous standards and guidance papers for capital adequacy, internal models, ERM and investments. The IAIS papers include standards and guidance expanded from single-entity focus to application to groups.