trending Market Intelligence /marketintelligence/en/news-insights/trending/0pESFDFw3iuBovu6mnHQUw2 content esgSubNav
In This List

Peruvian insurance regulator updates rules for calculating risk reserves

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Blog

Q&A: Data That Delivers - Automating the Credit Risk Workflow

Blog

Investment Research Brokers Ramp up Cryptocurrency Coverage

Blog

COVID-19 Impact & Recovery: Financial Industry Outlook for H2 2021


Peruvian insurance regulator updates rules for calculating risk reserves

Peru's banking and insurance regulator, SBS, published on Dec. 9 updated rules for the calculation of reserves held by local insurance companies to face certain short-term risks.

Known as Resolution 6394-2016, which was approved by the regulator Dec. 7, the update is part of efforts by the SBS to protect the interests of insured clients, promote transparency in the insurance system and ensure its solvency, Gestión reported.

The new rules, which are in line with international standards, establish a methodology for calculating reserves, but also allow companies to use their own methodology for insurance products with certain characteristics.

In addition, the norm creates a new methodology for the calculation of reserves by business line, which should allow companies to face situations of higher-than-expected claims or operating costs.