On Jul. 29, BER GVT published rule amendments on recovery plan.
BER GVT amended Insurance (prudential standards) (recovery plan) rules 2024.
Follows BER GVT Apr. 2024 issuance of recovery plan requirements, see #210480.
Recovery Plan Amendments
Amended Rule 3 by adding after paragraph (d): (e) whether the Authority is the group-wide supervisor of the insurance group; in addition, made technical amendment.
Effectiveness
Rule amendments regarding recovery plans shall come into operation on May 1, 2025.
