Regulatory Alerts2017-04-10
Actuary’s Report Regulation for Insurance Undertakings (VU-AktBV)
The Austrian Financial Market Authority mandates insurance undertakings to submit a standardized, electronically filed actuary’s report detailing technical provisions, profit sharing, and reinsurance results for life and health portfolios. The regulation specifies exact structural components, content requirements, and audit opinion formulations to ensure consistent actuarial oversight across all premium scales. Effective for the 2016 financial year, the rule establishes uniform submission formats and reporting standards to enhance regulatory transparency and capital adequacy assessments.
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