Important Points for IC 99 - Asset Management Exam
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Every insurer shall prepare a statement of the value of assets in accordance with Schedule I in respect of life insurance business. Every insurer shall prepare a statement of solvency margin in acordance with Schedule III, in respect of life insurance business.
Every insurer shall prepare a statement of assets in Form Assets AA of Insurance Regulatory and Development Authority of India (Actuarial Report and Abstracts for Life Insurance Business) Regulations, 2016.
An insurer shall furnish a statement of liabilities in accordance with the Insurance Regulatory and Development Authority of India (Actuarial Report and Abstracts for Life Insurance Business) Regulations, 2016.
Liquidity is a measure of a firms ability to pay short-term debt.
As per Section 83 of the Insurance Amendment Act, 2015, an insurer who does not comply with solvency requirement of sub-section (1), shall be deemed to be insolvent and it may be wound up by the court on an application made by the Authority.
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