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Insurance Regulation Omnibus Consultation – Feedback Paper

3rd August 2018

3rd August 2018

Following the closing of The Insurance Regulation Omnibus Consultation Paper on 26 April 2018 and analysis of responses, the Commission is today issuing a feedback paper, as well as associated rules, amendment rules, and guidance applicable to insurers licensed under the Insurance Business (Bailiwick of Guernsey) Law, 2002.

The feedback consultation response can be found here.

The following issued rules, amendment rules, and guidance can be found on the Legislation and Guidance page of the Commission’s website:

The Insurance Business (Public Disclosure of Information) Rules, 2018

The Licensed Insurer’s (Conduct of Business) Rules, 2018

The Insurance Business (Solvency) (Amendment) Rules, 2018 (a consolidated version of the Insurance Business (Solvency) Rules 2015 is also provided)

Guidance Note for Licensed Insurers on Category 6 – Non-Special Purpose Insurers

Guidance Note for Licensed Insurers on Reinsurance and Other Forms of Risk Transfer

Guidance Note on Licensed Insurers’ Own Solvency Assessment

Guidance Note for Licensed Insurers on Change of Majority Shareholder Controller

Information on when the above come into force, transitional periods for adoption by licensed insurers (where applicable), and the deadlines with regard to the increased frequency of solvency reporting (for those licensed insurers where this is applicable) can be found within the feedback paper.