Regulatory Alerts2026-03-04
Added · Updated
Guidance Notes and Information Concerning the Insurance Regulations 2025 and the CGC
The Isle of Man Financial Services Authority modifies class 12 qualifying criteria to clarify discretionary powers, restrict coverage to class 12 business, define mutual member eligibility, adjust beneficial ownership definitions for discretionary trusts, and add shareholders of own group members as eligible insured entities. Class 13 insurers face business restrictions limiting them to one contract with fixed maximum exposure, while off-balance sheet reinsurance is treated as Tier 1 eligible own-funds for solvency calculations. All authorized insurers must maintain clear reconciliations between audited financial statements and regulatory return inputs for SCR purposes, submit ORSAs within each calendar year, and conspicuously report material matters and regulatory approval requests.
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