A seminar for members of GICMA (the Guernsey Insurance Company Managers Association) took place on 26 November 2008. The seminar provided an opportunity for the Insurance Division to update the insurance sector on the recent stress testing exercise carried out prior to the IMF visit and the latest developments regarding the OSCA (Own Solvency Capital Assessment) requirements.
During the seminar the Division also gave an update on developments regarding the impact of the EU Reinsurance Directive and the global financial crisis. Diane Colton, the Director of Insurance provided an overview of the Division’s activity in relation to the IAIS (the International Association of Insurance Supervisors) and outlined the main features of the IAIS Captive Guidance Paper.
The slides of this presentation are available for download here.