Regulatory Alerts2022-12-01
AMF Notice on Capital Adequacy Requirements for Property and Casualty Insurance 2023
The Autorité des marchés financiers (AMF) issued this notice to clarify and adjust the application of its 2023 Capital Adequacy Requirements Guideline for property and casualty insurers. The AMF specifies that only insurance contracts recognized under sections (a) or (b) of IFRS 17 paragraph 25 must be included when calculating unexpired coverage for the Minimum Capital Test, excluding onerous contracts under section (c). These clarifications take effect on January 1, 2023, ensuring consistent capital calculations aligned with regulatory expectations.
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