Transcription of Risk-based Capital Framework For Insurance …
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CONSULTATION PAPER14 - 2003 November 2003 Risk-based CapitalFramework For Insurance BusinessConsultation Paper on the Proposed Risk-based Capital Framework for Insurance business Nov 2003 Monetary Authority of Singapore i EXECUTIVE SUMMARY Insurance companies are facing greater challenges in their businesses, particularly in terms of volatility of assets and diversity of Insurance risks , as well as keener competition from other financial institutions. While the existing statutory solvency Framework , which relies on undisclosed margins and approximations, has served its purpose well, it is not sufficiently transparent or risk-focused to adequately reflect the true financial conditions of the Insurance companies in the new environment.
Consultation Paper on the Proposed Risk-based Capital Framework for Insurance Business Nov 2003 Monetary Authority of Singapore i EXECUTIVE SUMMARY
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