PRUDENTIAL AUTHORITY: INPUT SOUGHT ON DRAFT STANDARD FOR INSURERS

PRUDENTIAL AUTHORITY: INPUT SOUGHT ON DRAFT STANDARD FOR INSURERS

• 20 April 2026
• Financial Sector
• SA Legal Academy

The Prudential Authority has called for input by 29 May 2026 on a draft revised public disclosures standard for insurers. Building on proposals released in July 2021 for public comment, once in force the revised draft standard will:

• operationalise the requirements of section 45 of the 2017 Insurance Act, and
• align public disclosure practices with the International Association of Insurance Supervisors’ (IAIS) Core Principle 20.

Issues unpacked in an accompanying guidance note include:

• general requirements (among other things drawing attention to the importance of assessing the relevance of climate‑related risks to various aspects of an insurance business)
• technical provisions
• best estimate liability and risk margin
• surrender values
• matters specific to:
  • life insurers, and
  • non-life insurers
• insurance risk exposure
• investments and related financial instruments
• investment risk exposure, and
• financial performance.

Please click the links below for more information:

• draft standard
• guidance note
• Prudential Authority notice
• questionnaire
• comments template
• Insurance Act (updated, SAFLII)
• IAIS core principles

Published by SA Legal Academy Policy Watch

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