Notice - Consultation Paper - Guidance Note for Legacy Insurance Groups on the Accounting and Capital Treatment for Corporate Liabilities (2023-10-25)

Summary

This is a BMA notice announcing a consultation on a proposed Guidance Note addressing the accounting and capital treatment of corporate liabilities for legacy insurance groups. It informs stakeholders where to find the draft guidance and invites comments by a stated deadline; it does not itself impose binding requirements.

• Purpose: Notifies stakeholders of a proposed Guidance Note on the Treatment of Corporate Liabilities for Legacy Insurance Groups and provides a link to the draft document.
• Action requested: Stakeholders are invited to submit comments on the proposed Guidance Note to riskanalytics@bma.bm.
• Deadline: Comments must be submitted no later than 15 November 2023.

Because this is a consultation notice rather than a finalized rule, it creates no ongoing compliance obligations beyond the optional comment period; any substantive requirements would arise only once the Guidance Note is finalized and issued.

Applies to

legacy insurance groups

Deadlines

• 15 November 2023: Deadline for stakeholders to submit comments on the proposed Guidance Note to riskanalytics@bma.bm