Important Points for IC 99 - Asset Management Exam
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Life insurance companies have to invest not less than 25% of their investment assets in Central Government Securities.
Insurance companies have to submit Form 1 (Statement of Investment and Income on Investment) to the IRDAI on a quarterly basis.
As per IRDAI Regulations, the Board of an insurance company shall implement the Investment Risk Management Systems and Process, mandated by the Authority. The implementation shall be certified by a Chartered Accountant firm.
The solvency ratio of an insurance company is the size of its capital including its reserves and surplus with reference to all potential liabilities for risks it has taken.
All insurance companies have to pay claims to policy holders. These could be current or future claims of policy holders. Insurers are expected to put aside a certain sum to cover these liabilities. These are also referred to as technical provisions.
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