Regulatory Alerts2017-10-12
Regulations amending Finansinspektionen’s regulations on non-life insurance contingency reserves (FFFS 2015:19)
Finansinspektionen issued these regulations to amend the standard rules for non-life insurance undertakings regarding the calculation of contingency reserves. The document updates Chapter 2, Section 4 by prescribing specific mathematical formulas for determining maximum branch amounts based on premium income and outstanding claims across various insurance categories. It also inserts a new Chapter 4, Section 3 that permits undertakings to utilize contingency reserves to cover solvency capital shortfalls, provided they notify the regulator beforehand. These provisions entered into force on January 1, 2016, with specific calculation rules applying from January 1, 2020.
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