News Brief - February 18, 2026

Audience: All Full Member Associations (Council Delegates and Correspondents) 

The International Accounting Standards Board (IASB) has proposed a new accounting model to better reflect how financial institutions manage interest rate risk throughout their portfolios. Please click this link for more details. The IASB’s consultation is openn for comment until 31 July 2026. 

The IAA intends to submit a formal response to this consultation. The Insurance Accounting Committee (IAC) will be responsible for formulating the response to this.  The response will be developed in accordance with the requirements of the IAA Due Process for Making a Public Statements.  

All members and observers of the IAC will be requested to provide input to the response. The developing drafts and the final response will be shared with the IAC. Please ensure that your association’s input is provided via your representatives in the IAC.    

If your association does not have a member or an observer in the IAC, you may nominate an observer to the drafting group to review the developing response. We request you to contact Amali Seneviratne (Director Technical Activities) at the IAA Secretariat as soon as possible, but no later than 6 March 2026 if your association wishes to nominate an observer.  Please note that this will be your only opportunity to influence the development of the response, as it will not be circulated outside the IAC.  

The final response will be submitted to the IASB on or before 31 July 2026, subject to approval by IAC members. 

The IAA submitted the responses to the public consultation by the International Association of Insurance Supervisors (IAIS) on the development of ComFrame material for ICS-related standards. The IAA’s responses are linked below: 

We thank Nick Dexter (Chair) and the members of the Insurance Regulation Committee  for formulating the response on behalf of the IAA.    

All IAA Public Statements are posted on the IAA website under Knowledge/Public Submissions.