The Insurance Regulatory and Development Authority of India vide circular dated 27-04-2022 has omitted following items from information to be submitted as part of the annual actuarial valuation and related reports submission for life insurers:
- Peer Review Report, except for Domestic Systemically Important Insurers.
- Audited Annual Financial Report along with all the Financial Statements
The requirement to submit quarterly ALM returns regarding “Asset Liability Management and Stress Testing” (for life insurers) is dispensed with, except for Domestic Systemically Important Insurers. However, all insurers shall continue to regularly monitor their ALM position, with appropriate internal reporting and analysis, as part of their risk management and monitoring process.
