Regulatory Alerts2024-04-24
Disclosure Requirements for the Report on the Solvency and Financial Standing of an Insurance or Reinsurance Undertaking
Latvijas Banka issued Regulation No 283 to establish disclosure requirements for the solvency and financial standing reports of insurance and reinsurance undertakings in Latvia. The regulation mandates that these reports adhere to principles of completeness and reliability, be approved by the undertaking's Board, and be published annually within 14 weeks of the reporting year's end. It specifies detailed content requirements covering business activities, governance systems, risk exposures, asset valuation, and capital management structures to ensure transparency for policyholders and supervisors.
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