On Apr. 17, POL GVT issued rules on life insurance contract assets.
POL GVT issued regulation of Minister of Finance of Feb. 10, 2025 on the specific rules related to the investment by an insurance company of the assets from all life insurance contracts, in which the investment risk is borne by the policyholder, for clarification.
Follows POL GVT Apr. 2024 consulted on a Finance Minister regulation, see #209407.
Legislation Overview
The regulation specifies special rules related to investment by an insurance company of assets from life insurance contracts in which the investment risk is fully borne by the policyholder who is a natural person, or the policyholder who is not a natural person.
The regulation provides clarification of the terms used in the legislation, in relation to both types of product, types of risks, as well as all the relevant associated legislation.
Chapter 2 covers the Assets in which insurance capital funds may be invested and investment limits that are applicable under the terms of the regulation and legislation.
Chapter 3 covers Rules for concluding contracts involving derivative instruments by an insurance company including non-standardized derivative instruments provided that it maintains part of its assets at a level that ensures the execution of such transactions.
Chapter 4 covers the Transitional provisions and final provision before law is effective.
In addition, there are 3 Annexes that provide a List of relevant indices, then Rules for calculation of total exposure using commitment method, and Rules for calculation of total exposure by Absolute Value method as well as by a Value at Risk (VaR) method.
Effectiveness
The regulation enters in force after 30 days from announcement date, May 17, 2025.
Regulators
POL GVT
Entity Types
Auditor; CNSM; Ins
Reference
OG Poz 505/2025, Ord, PR 4/17/2025; Reg 2/10/2025; SLV2 Reg 2015/35, Dir 2009/138;
