Regulatory Alerts2021-01-01
Insurance (Long-Term Business Valuation and Solvency) Regulations 2021
The Isle of Man Financial Services Authority issued these Regulations to establish comprehensive rules for the valuation and solvency of long-term insurance business under the Insurance Act 2008. The document mandates specific methodologies for calculating technical provisions, including best estimates and risk margins, while defining the Solvency Capital Requirement through detailed scenario-based and standard formula calculations. It further regulates eligible own-fund items, minimum capital requirements, and risk mitigation techniques to ensure insurers maintain adequate financial resilience.
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