Minimum Capital Requirements for Non Long-Term Business PCCs and ICCs
Feedback
We asked
For views on the Authority’s revised proposals for the minimum capital requirement for PCCs and ICCs under the draft Insurance (Non Long-Term Business Valuation and Solvency) Regulations 2020.
You said
Respondents found our proposed approach acceptable.
We did
We finalised the Insurance (Non Long-Term Business Valuation and Solvency) Regulations 2020 ahead of the launch of the new capital and solvency regime in December 2020.
Overview
The consultation is to obtain views in relation to proposed minimum capital requirements for PCCs and ICCs under the new valuation and solvency regime for non long-term business.
Why we are consulting
We are consulting to obtain stakeholders’ views on the Authority’s proposals and to move nearer to implementation of an enhanced regulatory framework for insurance business.
What happens next
When 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 (Non Long-Term Business Valuation and Solvency) Regulations for implementation on 31 December 2020.
Areas
- All Areas
Audiences
- All residents
Interests
- Policies, strategies & plans
- Finance
- Business
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