Financial Services Commission: Amendment to the Guidelines on Stress Test Requirements for long-term insurers
Article Published on March 18, 2021
The Financial Services Commission (FSC) released a Circular Letter on the Guidelines on stress test requirements for long-term insurers (the “Guidelines"). The FSC informs the public of an amendment to Part I of paragraph 2.5.8.3 (ITEM h(ii): Worse investment return capital adequacy requirement) of the Guidelines that has been made.
It will be recalled that the objective of the Guidelines is to assist long term insurers in calculating the stress test requirement, as required by the Insurance (Long Term Insurance Business Solvency) Rules 2007.The revision is effective for reporting periods beginning on or after 1 January 2020. The updated Guidelines can be accessed on the FSC website:
Guidelines on Stress Test Requirements for long-term insurers:Here
