Notice - Bermuda Solvency Capital Requirement Updated Proposal November 2017, Updated Deadline for 31 December 2016 Submissions (2018-02-02)

Summary

This is a short notice from the Bermuda Monetary Authority extending the deadline for industry feedback on a trial run tied to the Bermuda Solvency Capital Requirement (BSCR) Updated Proposal consultation paper published on 30 November 2017. The trial run uses financial data as of 31 December 2016.

• Original deadline: Industry feedback on the 31 December 2016 trial run was originally due 16 February 2018.
• Extended deadline: The deadline has been extended by one week to 23 February 2018.
• Contact: Questions relating to the trial run should be directed to riskanalytics@bma.bm.

The notice is purely administrative, updating a submission timeline for the BSCR consultation process; it does not itself change the underlying BSCR proposal.

Key obligations

• Insurers participating in the BSCR trial run must submit their feedback on the 31 December 2016 financial data trial run by the extended deadline of 23 February 2018.

Applies to

insurers subject to the Bermuda Solvency Capital Requirement

Deadlines

• 16th February 2018: Original deadline for industry feedback on the 31 December 2016 trial run (as referenced in the consultation paper)
• 23rd February 2018: Extended deadline for industry feedback on the 31 December 2016 BSCR trial run submissions