Regulatory Alerts2023-12-18
Notice Relating to the Application of the Guideline on Capital Adequacy Requirements – Reciprocal Unions
The Autorité des marchés financiers (AMF) issues clarifications and adjustments to its 2023 Guideline on Capital Adequacy Requirements for reciprocal unions. These updates resolve interpretation difficulties in calculating the Minimum Capital Target by specifying how to compute unexpired coverage for insurance and reinsurance contracts under IFRS 17. The AMF further clarifies the treatment of unamortized acquisition cash flows, reinsurance commissions, and captive fronting arrangements to ensure consistent regulatory capital reporting.
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