Regulatory Alerts2024-12-19
Regulation No 88/2024 on Risk-Based Capital Requirements for Insurers
The National Bank of Rwanda issues Regulation No 88/2024 to establish a comprehensive risk-based capital adequacy framework for all insurer categories except mutual insurers. The regulation mandates precise capital classification into Tier I and II, defines the Capital Adequacy Ratio against risk-based capital required, and sets binding Minimum and Prescribed Capital Adequacy Ratios. It further requires insurers to integrate enterprise risk management, utilize internal models where applicable, conduct dynamic solvency and own-risk assessments, and maintain transparent disclosure alongside corrective measures for deteriorating financial conditions.
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