Regulatory Alerts2022-07-28 | 29747Added · Updated
Quantitative Impact Study (QIS) IFRS 17 and IFRS 9
The Central Bank of Trinidad and Tobago requires all insurance companies registered under the Insurance Act, 2018, to submit audited financial statements in accordance with IFRS 17 for annual reporting periods on or after January 1, 2023. This circular announces a consultation on draft amendments to the Insurance (Capital Adequacy) Regulations, 2020, and mandates a Quantitative Impact Study (QIS). Affected entities must submit the completed QIS workbook, pro-forma IFRS 17/IFRS 9 financial information as of December 31, 2021, and feedback on proposed amendments by September 8, 2022.
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