Insurance Law

Prudential Evaluation ASF Circular no. 1/2023

The Insurance and Pension Funds Supervisory Authority, (“ASF”) issued Circular 1/2023 of 24 January regarding the impact of inflation on the prudential valuation of Insurance Companies, highlighting the need for insurance and reinsurance companies to take into account the inflation outlook when evaluating their current and future assets and liabilities.

Through this Circular, ASF sets forth several alerts and recommendations concerning the following matters: technical provisions, investments, solvency capital requirements, governance system, and actuarial certification.

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