Regulatory Alerts2024-12-05
Order on Notification of the Technical Basis and Other Matters for Life Insurance Business
The Danish Financial Supervisory Authority issued this order to regulate the notification requirements for the technical basis of life insurance business, applying to life insurance companies, cross-sectoral pension funds, and foreign branches. It mandates the use of specific forms to report technical assumptions, including mortality, interest, expenses, and risks, while requiring actuarial certifications and detailed impact assessments for policyholders. The regulation establishes rules for public accessibility, allowing for confidential treatment of proprietary methods, and sets penalties for non-compliance effective January 1, 2025.
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