Regulatory Alerts2023-08-15
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Ordinance No. 51 of 28.04.2016 on own funds and solvency requirements of insurers and reinsurers
The Financial Supervision Commission of Bulgaria issued Ordinance No. 51 to establish qualitative and quantitative requirements for the own funds and solvency capital calculations of insurers and reinsurers. The regulation defines the composition of basic and additional own funds, classifies them into three tiers based on loss-absorption capacity, and sets quantitative restrictions on eligible capital levels. It further details the supervisory approval procedures for permits, internal models, and specific transactions affecting capital adequacy.
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