Guidelines for insurers seeking exemption to use internal models to determine the regulatory liability and capital requirements for life insurance products with investment guarantees which have non-linear payouts.
Last Revised Date: 05 March 2020
Notice 319 Valuation of Policy Liabilities of Life Business [Cancelled with effect from 31 Mar 2020]
Requirements and guidelines on the valuation and reporting of policy liabilities.
This notice applies to all insurers licensed to carry on life business, except captive insurers.
It sets out:
- Mandatory requirements on the valuation of policy liabilities relating to the life business.
- Guidelines on valuation of policy liabilities relating to the life business.