On Sep. 23, BHS INS notice re third quantitative impact study.
BHS INS published notice regarding the third Quantitative impact study (QIS) in order to refine the risk based capital framework applicable to long term life insurers.
Also published notice to regarding the fourth Quantitative impact study to support the development of a risk based capital adequacy framework for general insurers.
Overview
Notices predict and implement International Financial Reporting Standards (IFRS), including IFRS 17 Insurance Contracts, IFRS 9 Financial Instruments, IFRS 16 Leases.
Objective of study was to evaluate the impact of these IFRS and Framework.
QIS modified accordingly, though changes were limited to address quality of responses
Response Instructions
Responses to both reports and requests for data must be submitted electronically as part of insurers' annual 2003 filings and are due on or before Oct. 21, 2024.
