Regulatory Alerts2020-12-03 | 24129Added · Updated
Insurance (Financial Condition Report) Regulations, 2020
The Minister of Finance of Trinidad and Tobago issued these Regulations to mandate annual financial condition investigations by appointed actuaries for all insurers. The rules require actuaries to conduct stress testing over projection periods of at least two years for general insurance and four years for long-term insurance, identifying unviable scenarios where regulatory capital ratios fall below 100% or net tier 1 ratios drop below 70%. Insurers must submit written financial condition reports to their boards and the Inspector, with the regulations coming into operation on January 1, 2021.
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