DNB issued insurance newsletter for September 2018. The newsletter highlights that DNB is inquiring about the risks of a hard Brexit among a group of large insurers. DNB wants to gain more insight into the extent to which insurers are exposed to the risks of a hard Brexit, the extent to which insurers are aware of these risks, and the mitigating measures taken by insurers.
The newsletter mentions that the insurers must prepare a regular supervisory report at least once every three years, unless DNB requests a different frequency. This reporting obligation is laid down in the Solvency II regulations. The newsletter also includes an updated calendar on the insurance sector.
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Keywords: Europe, EU, Netherlands, Insurance, Solvency II, Brexit, Reporting, QIS Calendar, DNB
APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.
ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.