Regulatory Alerts2022-12-01
Notice on the Application of the Capital Adequacy Requirements Guideline for Self-Regulatory Organizations 2023
The Autorité des marchés financiers (AMF) has issued clarifications to its 2023 Capital Adequacy Requirements Guideline for self-regulatory organizations. The notice specifies that only insurance contracts recognized under sections (a) or (b) of IFRS 17 paragraph 25 must be included when calculating unexpired coverage, thereby excluding onerous contracts under section (c). These adjustments take effect on January 1, 2023 and enable regulated entities to calculate their minimum capital requirement in accordance with the regulator’s expectations.
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