London Market Monitor – 31 August 2022
Our August review of the markets and Solvency II discount rates.
Capital regulations for life insurance companies in Asia are complex and varied. They are also subject to change, with such changes often affecting how insurers manage their business. In many markets in the region, regulators are introducing new risk-based capital (RBC) regimes or ‘upgrading’ existing RBC frameworks, with increasing consideration being given to consistency with the new International Financial Reporting Standard 17 (IFRS 17), International Capital Standards (ICS), and other capital regimes worldwide.
This ‘4th edition’ report covers the existing or upcoming capital regimes in 13 markets in Asia plus ‘ICS Version 2.0 for the monitoring period.’ The report also makes reference to Solvency II, Bermuda Solvency Capital Requirements (BSCR), Canada’s Life Insurance Capital Adequacy Test (LICAT), and the United States’ RBC regime (US RBC).
A complimentary summary of the 4th edition report can be downloaded here.
Life insurance capital regimes in Asia, 4th edition
This report compares and contrasts life insurance RBC regimes across selected Asian markets and highlights potential implications from future regulatory changes in the industry.