Insight
Thailand in focus - What's new in Non-Life August 2022
The latest on Thailand non-life insurance: Premiums rise 2.3% 1Q versus the same period in 2021, while net loss ratio increases to 156.4%, up from 57.3%.
The Prudential Regulation Authority (PRA) published Policy Statement 9/20 (PS 9/20) to provide feedback to the responses to the Consultation Paper 23/19 (CP 23/19) on "Income producing real estate loans and internal credit assessments for illiquid, unrated assets". At the same time the PRA published the updated and final version of the Supervisory Statement 3/17 (SS 3/17), the name of which is now "Solvency II: Illiquid unrated assets".
This Milliman briefing paper summarises key amendments made to the updated SS 3/17, and provides our view on how an internal credit assessment framework used by an insurer for examining illiquid and unrated assets, such as equity release mortgages or private debts, can be improved to better align with the regulator's expectations for the Matching Adjustment calculation. If you would like to discuss this topic in detail, please contact Paul Fulcher or Sihong Zhu, or your usual Milliman consultant.
Insight
The latest on Thailand non-life insurance: Premiums rise 2.3% 1Q versus the same period in 2021, while net loss ratio increases to 156.4%, up from 57.3%.
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PS 9/20 and updated SS 3/17: Illiquid and unrated assets
This briefing paper summarises key amendments made to the updated Supervisory Statement 3/17, and provides our view on how an internal credit assessment framework used by an insurer for examining illiquid and unrated assets, such as equity release mortgages or private debts, can be improved to better align with the regulator's expectations for the Matching Adjustment calculation.