Minimum Capital Requirements for Non Long-Term Business PCCs and ICCs

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.