Introduction

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The Insurance Capital Standard (ICS) is a consolidated group-wide capital standard. The objective of this document is to provide insight into the calibration of the individual risk charges of the ICS. It aligns with the public commitment made by the IAIS to prepare and release a calibration document for ICS risk charges, reflecting the IAIS's dedication to transparency and disclosure.

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Applicability

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It is a measure of capital adequacy for Internationally Active Insurance Groups (IAIGs) and constitutes the quantitative component of the Common Framework for the Supervision of IAIGs (ComFrame), which consists of both quantitative and qualitative supervisory requirements tailored to the complexity and international scope of IAIGs.​

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Requirements​

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The present calibration document provides explanations on the calculation of the different ICS risk charges and their aggregation. Detailed information is made available for all risk modules within Insurance risks, Market risks, Credit risk and Operational risk, as well as for correlation matrices used for aggregating risk charges.

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Effective Date​

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The ICS was adopted by the IAIS at its Annual General Meeting in December 2024.