Regulatory Alerts2023-03-31
Capital Adequacy Requirements Guideline – Life and Health Insurance 2023 Application Notice
The Autorité des marchés financiers (AMF) issued this notice to clarify and adjust the application of its 2023 Capital Adequacy Requirements Guideline for life and health insurers. The guidance extends the volatility adjustment election window to six months post-IFRS 17 implementation, mandates fair-value treatment for elected owner-occupied properties in real estate risk calculations, and corrects the first capital composition limit formula to include newly added tax adjustment items. Insurers must apply these clarifications to their capital calculations and notify the AMF’s Financial Condition Supervision of their volatility adjustment decisions.
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