Important Points for IC 99 - Asset Management Exam
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All life insurers shall submit the data with respect to the assets and liabilities in the format, (Table-ALM) as per Annexure-1, on a quarterly basis.
Table-ALM data shall be furnished separately for Life, Pension, General Annuity and Health businesses.
Insurers Board shall ensure timely review of the issues emanating from Table-ALM data and Annexure-ST and take such corrective action as may be necessary under intimation to the Authority.
IRDA circular on Asset Liability Management and Stress testing for Non-life Insurers : Insurers shall have an ALM policy approved by the Board of the insurer and shall be submitted to the Authority within 90 days from the date of this circular.
The ALM framework shall cover all the areas significant in terms of their potential impact on economic value. The economic value of asset or liability cash flows, derived in such a way as to be consistent with current market risks where they are available.
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