Regulatory Alerts2024-09-26
Regulation on Internal Assessment of Own Risks and Solvency for Insurance Undertakings
The National Bank of Moldova issued Decision No 243/2024 approving a regulation that requires insurance and reinsurance undertakings to establish internal assessment policies for their own risks and solvency within nine months. The regulation mandates annual internal assessments and stress tests to evaluate financial stability, ensuring governing bodies actively participate in identifying risks and determining adequate capital needs. It further stipulates strict documentation, reporting, and supervisory requirements to ensure continuous compliance with solvency ratios and technical reserve obligations.
Share