Investment governance for insurance offices requires independent due diligence, capital support for excess exposure, and continuous risk monitoring. IIO boards must maintain prudential mechanisms to evaluate, monitor, measure, report, control and limit investment exposure. IIOs must undertake ... Summary
International Financial Services Centres Authority (Investment by International Financial Service Centre Insurance Office) Regulations, 2022
Investment governance for insurance offices requires independent due diligence, capital support for excess exposure, and continuous risk monitoring.
IIO boards must maintain prudential mechanisms to evaluate, monitor, measure, report, control and limit investment exposure. IIOs must undertake independent due diligence on proposed investments in addition to rating-agency assessments. Additional capital must be infused as specified where exposure exceeds prescribed limits or an invested asset is downgraded below investment grade. Continuous monitoring and appropriate prudential management of market, interest-rate, currency, credit, liquidity and climate-change risks are required.
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