Regulatory Alerts2017-07-19
Added
Guidance on Insurers' Own Risk and Solvency Assessments
The Monetary Authority of Singapore issued this guidance to improve the effectiveness of insurers' Own Risk and Solvency Assessments following a review of industry practices. It requires insurers to integrate ORSAs deeply into business planning, enhance board-level deliberations on material risks, and adopt robust stress testing scenarios reflective of their specific risk profiles. The document outlines sound practices for risk governance, tolerance statements, and continuity analyses to ensure capital adequacy and strategic alignment.
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