Regulatory Alerts2026-01-01
Insurance (Actuaries) (General Insurance Companies) (Amendment) Regulations, 2011
The Financial Services Commission of Jamaica issued the Insurance (Actuaries) (General Insurance Companies) (Amendment) Regulations, 2011, to replace the Minimum Asset Test with a Minimum Capital Test for general insurers. These regulations mandate that insurers maintain specific capital-to-required ratios, escalating from 200% in 2011 to 250% by 2013, and require the submission of compliance reports to the Commission. The amendments update definitions, filing requirements, and appendices within the principal 2002 regulations to align with the new capital adequacy standards.
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