Important Points for IC 99 - Asset Management Exam
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The investment policy of Life, General Insurer including an insurer carrying on business of re-insurance or health insurance, as approved by the Board shall be implemented by the investment committee. The Board shall review on a quarterly basis the monitoring of fund wise and in respect of each product (both participating and nonparticipating products in the case of life insurers).
The Board shall review the investment policy and its implementation on a half-yearly basis or at such short intervals as it may decide.
The Board shall implement the Investment Risk Management Systems and Process, mandated by the Authority.
The Insurer shall have the investment transactions covering both Shareholders and Policyholders funds be audited through Internal or Concurrent Auditor as per the circular issued under this regulation.
Every Insurer shall invest its controlled fund as defined under Section 27A / all assets as defined under Section 27(2) of the Insurance Act, 1938 as amended from time to time, only within the exhaustive category of investments listed in the guidelines issued by the Authority.
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