Regulatory Alerts2017-12-22 | DOF 5508802Added
Amending Circular 18/17 of the Single Circular on Insurance and Sureties
The National Insurance and Sureties Commission modifies the calculation methodology for catastrophic risk reserves, requiring the maximum accumulation limit to be based on the higher of the current year's probable maximum loss or the average of the previous five years. It also amends reporting requirements by consolidating technical reserve data into the Technical Reserves Regulatory Report (RR-3) and removing duplicate technical reserve information from the Capital Requirement Regulatory Report (RR-4). These changes take effect immediately for reserve calculations and apply to reports submitted for the first quarter of 2018.
More like this from SHCP
SHCP published 14 documents in the last 30 days. We email you each new one the day it's published.