International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023
Regulation 9 - Non-applicability of certain regulations and savings
International Financial Services Centres Authority (Assets, Liabilities, and Solvency Margin of General, Health and Re-Insurance Business) Regulations, 2023 Chapter III MISCELLANEOUS PROVISIONS
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Regulatory transition in International Financial Services Centres preserves prior insurance actions while requiring existing IIOs to meet additional requirements. Regulation 9 disapplies, from commencement, the 2016 framework on assets, liabilities and solvency margin, including related circulars and guidelines, ... Summary
Regulatory transition in International Financial Services Centres preserves prior insurance actions while requiring existing IIOs to meet additional requirements.
Regulation 9 disapplies, from commencement, the 2016 framework on assets, liabilities and solvency margin, including related circulars and guidelines, within International Financial Services Centres. Prior actions under that framework are preserved and deemed taken under corresponding provisions. An IIO already operating in an International Financial Services Centre must satisfy any additional applicable requirements within six months of commencement or within an extended period specified by the Authority.
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