Regulatory Alerts2025-01-01
Consultation Paper No. 13 of 2025 – IAIS Insurance Core Principles and Climate Risk Management
The Abu Dhabi Global Market Financial Services Regulatory Authority proposes regulatory enhancements to align with the IAIS Insurance Core Principles, implement IFRS 17 accounting standards, and establish frameworks for managing climate-related financial risks. The consultation introduces targeted requirements for reinsurance risk management, market conduct, and product development while streamlining miscellaneous operational rules. Additionally, the FSRA outlines initial expectations for all authorized persons to identify, measure, and manage material climate risks within their existing risk and capital adequacy frameworks.
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