Regulatory Alerts2022-06-02
Regulation No. 47/2022 on Publication of Financial Statements and Other Disclosures by Insurers
The National Bank of Rwanda issued Regulation No. 47/2022 to mandate all domestic insurers to publish relevant, comprehensive, and adequate financial statements and supplementary disclosures on a timely and regular basis. The regulation requires these disclosures to comply with International Financial Reporting Standards, meet strict criteria for reliability and consistency, and encompass both qualitative profiles and quantitative risk exposures. It assigns primary compliance responsibilities to the board of directors for policy development and senior management for internal review, while granting the supervisory authority discretion to exempt specific disclosures under defined conditions.
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