Regulatory Alerts2022-04-01
Codes on Actuarial Reporting Requirements
The Financial Services Authority of Seychelles mandates all licensed insurance and reinsurance companies to establish a robust actuarial function led by an approved Appointed Actuary. Regulated entities must annually submit a comprehensive Financial Condition Report detailing technical provisions, capital adequacy, premium pricing, reinsurance arrangements, and risk management practices. The code further requires the actuarial function to maintain direct Board access, ensure data reliability and transparency, and address material deviations or breaches of minimum capital requirements.
Share