Insurance (Long-Term Business Valuation and Solvency) Regulations 2021

Closed 1 Mar 2021

Opened 1 Feb 2021

Contact

Sian Eltman

(Actuary)

IOMFSA ICP Team

+44 1624 646000

Sian.eltman@iomfsa.im

Feedback updated 25 Jun 2021

We asked

For views on the proposed amendments to the Insurance (Long-Term Business Valuation and Solvency) Regulations 2018.

You said

Respondents found our proposed approach acceptable.

We did

We finalised the Insurance (Long-Term Business Valuation and Solvency) Regulations 2021 for implementation around 31 December 2021.

Overview

The consultation is to obtain views in relation to proposed amendments to the Insurance (Long-Term Business Valuation and Solvency) Regulations 2021. The amendments update the Insurance (Long-Term Business Valuation and Solvency) Regulations 2018 in light of the UK’s withdrawal from the EU and the anticipated launch of the Insurance (Non Long-Term Business Valuation and Solvency) Regulations 2021 in June 2021.

Why your views matter

We are consulting to obtain stakeholders’ views on the Authority’s proposals

What happens next

Now the consultation period has closed, the Authority will review the responses received and publish a Consultation Response document.

Subject to the responses, the Authority will proceed to make the Insurance (Long-Term Business Valuation and Solvency) Regulations 2021 for implementation on 30 June 2021.

Areas

  • All Areas

Audiences

  • All residents

Interests

  • Legislation
  • Policies, strategies & plans
  • Finance