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This chapter looks at insurance standards used to create new markets or reinforce existing ones. It unveils a number of little-known standards that are instrumental in pushing the frontier of highly innovative and securitised insurance markets ever further. It first provides a detailed analysis of the project that insurers, pension schemes and investment banks developed over several years for a standardised solution to pass over to capital markets the risk associated with longer and different expectations in populations’ longevity – known as ‘longevity risk’. Then it shows the significance of standardised data exchange formats in various lines of insurance markets. A case in point is how the world’s largest reinsurers took decades to standardise the exposure to natural hazards risks included in their portfolio. Another one, though not confined to insurance, is the standardised guidelines used for extra-financial reporting and developed by the Global Reporting Initiative (GRI). Evidence gathered in this chapter suggests that, although those standards largely belong to a logic of market creation and rationalisation, compliance remains ambiguous and falls short of a mere transnationalisation of capital accumulation.
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