Key regulatory changes in Thailand: RBC2 quantitative requirements, ERM guidelines, and ORSA reporting requirements

In Thailand, 2019 will be a year of considerable regulatory changes pertaining to risk management. The new risk-based capital framework will replace the current one, and insurance companies will be required to implement Enterprise Risk Management and Own Risk and Solvency Assessment. Additionally, impact studies for IFRS9 and IFRS17 are expected to take place prior to the complete transition to the 99.5% confidence level.