The International Association of Insurance Supervisors (IAIS) yesterday published its Roadmap 2025-2026, the first under the new IAIS Strategic Plan 2025-2029.
The Roadmap outlines the projects and activities the IAIS will undertake in support of its four core objectives – namely to:
- Monitor and respond to key risks and trends in the global insurance sector;
- Set and maintain globally recognised standards for supervision that are effective and proportionate;
- Support members by sharing good supervisory practices, promoting understanding of supervisory issues and facilitating capacity building; and
- Assess comprehensive and globally consistent implementation of global standards.
Following an intensive phase of standard-setting, including the adoption of the Insurance Capital Standard (ICS) at the end of 2024, the IAIS will now focus on the comprehensive and globally consistent implementation of its supervisory material. This shift is reflected in the Roadmap through an enhanced programme of implementation support and assessment, including the development of an assessment methodology for the ICS.
"The Roadmap 2025-2026 sets out the immediate priorities for the IAIS as we pivot from a strong focus on setting standards to ensuring their effective implementation. This transition is crucial for maintaining robust and consistent supervision across the insurance sector, and we are committed to supporting our members throughout this process," said Executive Committee Chair, Shigeru Ariizumi.
In line with its Strategic Plan, the IAIS will continue to assess the most pressing risks and trends impacting the global insurance sector and discuss collective supervisory responses. This includes enhancing the annual IAIS Global Monitoring Exercise to detect systemic risks and continuing to report on its outcomes in the Global Insurance Market Report. This year, particular focus areas include structural shifts in the life insurance sector – covering increased asset allocation to alternative investments and the growth of cross-border asset-intensive reinsurance – as well as the potential financial stability implications of natural catastrophe protection gaps.
The IAIS will also support its members’ efforts to implement IAIS standards by developing guidance on effective supervisory practices and facilitating peer exchange. The main areas of work will respond to trends that affect the global insurance sector and the broader financial system, such as the supervision of climate-related risks and the application of IAIS standards on the use of AI.
"Our focus on climate change, digital innovation and building resilience reflects the key role that insurance plays in addressing some of society’s most pressing global challenges. By addressing these strategic themes, we aim to equip our members with the tools and knowledge needed to navigate the complexities of their impact on the insurance sector and to contribute to enhancing sustainable growth and resilience", said secretary general Jonathan Dixon.
In advancing the broad range of initiatives outlined in the Roadmap, the IAIS remains committed to assisting members from emerging market and developing economy jurisdictions and will continue to collaborate with the Financial Stability Board and other standard-setting bodies as well as with other international organisations and the IAIS’ implementation partners.