Aggregated News From Investment Management Regulators

Updated Regulatory Electronic Return templates for use by Life Insurers


Please complete the required fields.

Today the Authority has published updated Regulatory Electronic Return templates for use by life insurers on its website. Use of the updated forms will be mandatory for submissions with a valuation date of 30 September 2020 and beyond. For interim valuation dates, use of the new forms is optional.

The changes made are as follows:

  • RER_LT1_Form_6_Total: This form has been updated to correct issues with the calculation of eligible own-funds. This will only impact insurers who have own-funds consisting of paid-up subordinated mutual member accounts, paid-up preference shares, or paid-up subordinated liabilities.
  • RER_LT2_Supplementary_1: This form has been updated as follows:
    • The Revenue_Account_Total tab has been amended to include an ‘actual versus plan’ analysis and commentary . Please note that commentary is excluded from audit requirements under the Insurance Regulations 2018;
    • the Revenue_Account_Projected tab has been amended to include projected SCRs, before and after dividend payments;
    • the Change_Analysis tab has been updated to include a minimum level of analysis for insurers to carry out. Please note this does not remove the requirement for insurers to carryout appropriate change analyses for their business, within the actuarial report.

Regulator Information

Abbreviation: IOMFSA
Jurisdiction: Isle of Man

Recent Articles

SEC Charges Three Sales Agents at StraightPath Venture Partners With Fraud and Unregistered Broker Activity

The Securities and Exchange Commission today charged Scott Hollender, Gabriel Migliano, Jr.

Exercise Caution with Crypto Asset Securities: Investor Alert

TLDR:  The SEC’s Office of Investor Education and Advocacy Read more

SEC Charges Financial Adviser for Misappropriating More Than $1 Million From Current, Former NBA Players

The Securities and Exchange Commission today charged Darryl Matthew Cohen, a former investment adviser at a large financial institution, with misappropriating more than $1 million from three current

CFPB Orders Repeat Offender Portfolio Recovery Associates to Pay More Than $24 Million for Continued Illegal Debt Collection Practices and Consumer Reporting Violations

The Consumer Financial Protection Bureau (CFPB) took action today against Portfolio Recovery Associates, one of the largest debt collectors in the nation, for violating...

Employee savings: a sharp increase in awareness and ownership of employee savings schemes; support for employees and company managers should be reinforced

A larger number of French employees know about employee savings schemes and possess at least one of them (PEE or PERCO collective retirement savings plan, for example), according to a study carried

Get the latest from Regulatory.News in your inbox!