... PowerPoint Presentation Insurance Summit 2017 Mr Raymond Tam Executive Director (Policy and Development) Insurance Authority 21 September 2017 Priority of Policy Initiatives • Development of risk-based capital regime • Facilitation of Insurtech applications 2 Risk-based Capital Regime 3 Pillar 1...

... draft new ERM Guideline as part of the Pillar 2 (i.e. qualitative) requirements under the Risk-based Capital (“RBC”) regime. The Insurance Authority (“IA”) is developing the RBC regime, with a view to aligning the capital requirements for insurance companies with the risks to which they are exposed and...

... management Reinsurance Actuaries in Risk Management Claims Settlement Capital Adequacy Framework • Quantitative assessment • Valuation • Capital RBC – Pillar 1 Identify key risks Formulation of business strategy Communicate and explain risks drivers to Management RBC – Pillar 2 ORSA • Qualitative assessment...

... management Reinsurance Actuaries in Risk Management Claims Settlement Capital Adequacy Framework • Quantitative assessment • Valuation • Capital RBC – Pillar 1 Identify key risks Formulation of business strategy Communicate and explain risks drivers to Management RBC – Pillar 2 ORSA • Qualitative assessment...

... better risk management and policyholders’ protection. 10 Pillar 1 – Quantitative Requirements • IA launched the first Quantitative Impact Study (“QIS 1”) and distributed the technical specifications and templates to the industry on 28 July 2017. • QIS 1 submissions by 1 December 2017 Data analysis will...

... better risk management and policyholders’ protection. 10 Pillar 1 – Quantitative Requirements • IA launched the first Quantitative Impact Study (“QIS 1”) and distributed the technical specifications and templates to the industry on 28 July 2017. • QIS 1 submissions by 1 December 2017 Data analysis will...

... better risk management and policyholders’ protection. 10 Pillar 1 – Quantitative Requirements • IA launched the first Quantitative Impact Study (“QIS 1”) and distributed the technical specifications and templates to the industry on 28 July 2017. • QIS 1 submissions by 1 December 2017 Data analysis will...

... disciplinary actions against the DIHC. The Group-wide Supervision (“GWS”) framework The GWS framework is anchored on three pillars: Pillar 1 Pillar 1 establishes capital requirements which a DIHC in relation to its supervised group would be...

... actuaries in the near future. 7. Ladies and gentlemen, you would probably agree with me in saying that the establishment of IIA is timely. With more operational flexibility than a government department, the IIA can collaborate with the industry more effectively to harness technologies, raise the competence...

... actuaries in the near future. 7. Ladies and gentlemen, you would probably agree with me in saying that the establishment of IIA is timely. With more operational flexibility than a government department, the IIA can collaborate with the industry more effectively to harness technologies, raise the competence...