... 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...

... 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...

... level principles of the conceptual framework, there are mixed views on some of the technical aspects. The following paragraphs highlight the major comments received and our responses. Detailed comments on the proposals and our responses are at Annex B. Major Comments Received and Our Responses Pillar 1...

... appointment as a new Non-Executive Director (NED) of the IA and the seven incumbent NEDs on their reappointments: Mr Samuel Chan Ka-yan, Professor Chan Wai-sum, Ms Chitty Cheung Fung-ting, Mr Kenneth Kwok Tsun-wa, Mr Ma Ho-fai, Mr James Wong Chien-kuo and Mr Stephen Yiu Kin-wah. Established in...

... Guideline has been revised to focus, in relation to group risk, on requirements at the solo level. (See paragraphs 2.3, 6.5.1 to 6.5.5, Annex A and Annex B) 3. Introduction of “Pillar 2 Capital amount” The industry would like to seek further guidance and expectation on “internal economic capital” and...

..., the level of risk to which an insurer is exposed will be taken into account when determining its capital requirement. Q5 What are the three Pillars under the RBC framework ? A5 An RBC framework covers three major areas, known as the Three Pillars. Pillar 1 consists of the quantitative requirements...

... the insurer’s ultimate accountability of the outsourced service and obligations to comply with relevant laws, regulations and rules. 3. Interpretation 3.1. In this Guideline, unless the context otherwise specifies: (a) “based in Hong Kong”, in relation to an authorized insurer, means that the insurer...

... Questions and Answers on “Guideline on Outsourcing” (“GL14”) Q1 Is management of investment assets by a service provider, such as providing investment advice and/or buying securities, regarded as outsourcing? A1 Such activity falls under “investment management” in Annex 1 to GL14 and is regarded...

... The four IFGs are IFG on Pillar 1 (Life Insurance), IFG on Pillar 1 (General Insurance), IFG on Pillar 2 and IFG on Groups. 2 The data to be collected during QIS 1 is important to enable us to perform data analysis and calibration for the risk charges and capital requirement at a later stage. Your...