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Title: EXPOSURE DRAFT
Reference No.:
Date: 06/11/2015
IRDAI(Assets, Liabilities, and Solvency Margin of General Insurance Busines
The Insurance Laws (Amendment) Act, 2015 has amended the Insurance Act 1938. This has led to existing Regulations on Assets, Liabilities and Solvency Margin of Insurers being defunct.
The draft Regulations on Assets, Liabilities and Solvency Margin of General Insurance Business are being displayed on the website with a view to invite comments from all concerned.
The major changes in the draft Regulations as compared with current Regulations are listed below:
1. Introduction of “Control Level of Solvency Margin”
2. Introduction of Technical Reserve Committee
3. Introduction of 27 lines of business
4. Allowance for other forms of capital in the calculation of Solvency Margin
Annexure I attached herewith gives more details on the changes proposed in the draft Regulations.
Comments on the draft Regulations may be sent to the email id regulations_actl_gi at irda dot gov dot in
latest by 27th November 2015 in the format provided in Annexure II.
J. Anita
Deputy Director – Actuarial
