Regulatory Alerts2020-12-23
Added
Guidelines on the Preparation of Actuarial Investigation Report
The Monetary Authority of Singapore issues these guidelines to specify the disclosure requirements for actuarial investigation reports prepared by licensed insurers under Section 37 of the Insurance Act. The document mandates detailed reporting on data verification, valuation methodologies, assumptions, and results for both life and general business, including specific formats for presenting policy liabilities and risk requirements. It further requires actuaries to justify any deviations from the guidelines and explain the rationale behind significant changes in methods or assumptions compared to previous periods.
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