Regulatory Alerts2024-07-02 | 29761Added · Updated
Further responses to implementing International Financial Reporting Standard 17 – Insurance Contracts (IFRS 17) for regulatory purposes
The Central Bank of Trinidad and Tobago rejects requests to defer the mandatory IFRS 17 effective date or extend the filing deadline for 2023 financial statements beyond the concessions already granted in June 2024. The Bank mandates that insurers continue using the Current Premium Provision Method (CPPM) framework for solvency and dividend considerations until a new IFRS 17 solvency framework is established. Insurers are required to submit parallel run returns and updated financial condition reports by specific deadlines in 2024 to facilitate the calibration of the regulatory capital framework.
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