Regulatory Alerts2015-12-13
Amendments Proposed to Improve Competitiveness of Insurance Industry
The Financial Services Commission proposed amendments to the Regulation on Supervision of Insurance Business that repeal standard interest rates used for calculating policy reserves and premiums. The regulatory changes phase out existing interest rates applied to determine benefit amounts for interest rate-linked insurance products. These adjustments modernize calculation methods to enhance the overall competitiveness of the domestic insurance sector.
Share