Introduction Under the supervision of the IAA the below questions has been answered around the IFRS 17 regulation. It is an educational document on an actuarial subject that has been adopted by the IAA in order to advance the understanding of the subject by readers of the chapter, including actuaries and others, who use or rely upon the work of actuaries. Link to IFRS 17 Published Documents page. More questions…
EIOPA plans to release a stress test report in January 2019. Regular tool Stress tests are one of the regular supervisory tools used to assess the resilience of the insurance sector. 2018 Test The 2018 exercise is tailored to assess the vulnerability of the European insurance sector to specific adverse scenarios and will be based on a sample of 42 insurance groups. The scenarios encompass a wide range of risks,…
This directive is a new regulatory regime for insurance distributors. It is effective as at 1 October 2018. The new regulation stems from EU's Insurance Distribution Directive - IDD. The IDD directive The directive adopted in 2016 seeks to improve consumer protection for insurance products. It is applicable to insurance intermediaries, insurance companies and online distribution. Information and transparency is key in the new regulation. In addition any conflicts of…