Regulatory Alerts2021-11-11
Added · Updated
Requirements for the Report of the Valuator of a Medical Aid Fund
The Namibia Financial Institutions Supervisory Authority issued Standard MAF.S.7.10 to mandate comprehensive actuarial reporting for all registered medical aid funds under the Financial Institutions and Markets Act, 2021. The standard requires valuator reports to explicitly detail data sources, underlying assumptions, sensitivity analyses, and the adequacy of contributions relative to projected financial soundness. It further mandates clear disclosures regarding incurred but not reported claims, risk areas, and potential future contribution increases or benefit reductions.
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