Important Points for IC 99 - Asset Management Exam
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Money Market Instruments shall comprise of Short term investments with maturity not more than one year.
Investment in securitized assets [Mortgaged Backed Securities (MBS) / Asset Backed Securities (ABS) / Security Receipts (SR)] both under approved and other investment category shall not exceed 10% of Investment Assets in case of Life companies and 5% of Investment Asset in the case of General companies.
Regulation 13 provides a set of guidelines, directions and requirements in respect of Constitution of Investment Committee, Investment Policy, Investment Operations, Investment Risk Management Systems and its Review, Audit and Reporting to Management, Category of Investments, Dealing in Financial Derivatives etc.
Every insurer shall constitute an Investment Committee which shall consist of a minimum of two non-executive directors of the Insurer, the Chief Executive Officer, Chief of Finance, Chief Risk Officer, Chief of Investment division, and the Appointed Actuary.
Every Insurer shall draw up, an Investment Policy (IP) (fund wise IP in the case of Unit Linked Insurance Business) and place the same before its Board of Directors for its approval.
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