On Oct. 8, TAI FSC said it will adjust risk based capital calculation.
TAI FSC said it will release the adjustment to Scope and formula for calculating total adjusted net capital and risk based capital of insurance companies for the year 2024.
Follows TAI FSC Jun. 2024 issued manuals for adjusted net capital, see #217665.
Also follows TAI FSC Apr. 2024 issued transitional measures for TW-ICS, see #208594.
Adjustments
X factor for calculating C3 interest rate risk capital in 2025 shall be 0.9, same as 2024.
In order to implement the standards for catastrophe risk capital provision stipulated in new generation solvency system (TW-ICS) (#208594), the third phase will extend the requirements to all types of insurance and reinsurance, including natural disaster risks.
It will also incorporate capital requirements for terrorism and pandemic risks across the entire insurance industry, which are being implemented from 2024 as planned.
Oct. 9, 2024 Implementation
On Oct. 9, 2024, TAI FSC, TAI Justice stipulated relevant reports and filled-in manuals for calculating total adjusted net capital and risk-based capital of insurance firms.
