Regulatory Alerts2026-01-01
Insurance (Amendment) Regulations 2022
The Financial Services Commission of Jamaica issued the Insurance (Amendment) Regulations 2022 to update the Insurance Regulations 2001 with enhanced solvency and capital requirements. The amendments introduce new definitions for credit ratings and investment grades while restructuring capital calculations for asset, market, and insurance risks. These changes mandate stricter capital adequacy standards and specific risk factors for insurers and foreign branches, with key provisions taking effect after December 31, 2022.
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