New Milliman report: Life insurance capital regimes in Asia, 2nd edition
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The first edition of Milliman’s Life insurance capital regimes in Asia: Comparative analysis and implications report was published in July 2019. Well received by the market, as the first of its kind, the report has been referred to and cited several times over the last year. In view of the pace of change in, and increasing focus on, regulatory (and economic) capital across the region, Milliman has compiled an updated report a year later.
This “2nd edition” covers capital regimes in 13 Asian markets and includes the 2019 ICS (Insurance Capital Standard) field test and ICS Version 2.0 (which may be a reasonable proxy for the future risk based capital (RBC) regime in Japan). It also makes reference to Solvency II, Bermuda Solvency Capital Requirements (BSCR), Canada’s Life Insurance Capital Adequacy Test (LICAT) and the United States’ RBC regime (US RBC). Brunei, the Philippines and Sri Lanka have been added to the original 10 markets covered in the first edition.
The Life insurance capital regimes in Asia: Comparative analysis and implications (2nd edition) aims to:
- Compare and contrast qualitative and quantitative aspects of life insurance RBC regimes across the 13 selected Asian markets
- Present an analysis of key capital results
- Highlight some of the potential implications for businesses arising from the future development of capital regulations
- Contribute to a wider discussion on the potential impact of regulatory changes on the life insurance industry in Asia
A free copy of the summary of the full report can be downloaded here
Previous recent Asia e-Alerts are available here:
To discuss the report or RBC frameworks in more detail, you can reach out to the following Milliman consultants:
Hong Kong: Clement Bonnet email@example.com
Singapore: Wen Yee Lee firstname.lastname@example.org
Jakarta: Brian Colgan email@example.com
Kuala Lumpur: Farzana Ismail firstname.lastname@example.org
Mumbai: Philip Jackson email@example.com
Shanghai: Sharon Huang firstname.lastname@example.org
Seoul: Sung Hoon Kim email@example.com
Tokyo: Atsushi Okawa firstname.lastname@example.org
Taipei: Wing Wong email@example.com
Disclaimer:This article presents information of a general nature and is intended solely for educational purposes. It is not intended as advice for any specific situation and may not be relied upon for any purpose. You should always consult qualified professionals familiar with your circumstances before adopting any strategy or taking any action. Milliman does not guarantee the veracity, reliability, or completeness of this e-Alert and has no responsibility for damages alleged to have been caused by it. This e-Alert is not directed at residents in any jurisdiction where it would contravene local law.