Regulatory Alerts2026-01-01
Insurance (Actuaries) (General Insurance Companies) (Amendment) Regulations, 2022
The Financial Services Commission issued these regulations to amend the Insurance (Actuaries) (General Insurance Companies) Regulations, 2002. The amendments lower the minimum Solvency Capital Requirement for general insurance companies to 150% by 2023 and impose a temporary dividend cap limiting payouts to 65% of pre-tax profits until December 31, 2023. These changes were approved by the Minister of Finance and the Public Service on December 22, 2022.
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