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Long Term Insurance Act, 1998 (Act No. 52 of 1998)

Board Notices

Notice on Governance and Risk Management Framework for Insurers, 2014

Part 4 : Risk Management System

14. Asset-liability management policy

 

An insurer's asset-liability management policy must—

(a) clearly specify the nature, role and extent of the insurer's asset-liability management activities and their relationship with product development, pricing functions and investment management;
(b) co-ordinate the management of risks associated with assets and liabilities and the complexity of those risks;
(c) recognise the interdependence between the insurer's assets and liabilities and take into account the correlation of risk between different asset classes and the correlations between different products and business lines; and
(d) take into account any off-balance sheet exposures that the insurer may have and the contingency that risks transferred may revert to the insurer.