Submission to Financial Regulator on Investment Guarantees
The Financial Regulator published a consultation paper during the summer on “Investment Guarantees – Guidance on Reserving and Risk Governance”.
In a response to the consultation, the Society of Actuaries in Ireland welcomed the consultation paper as a valuable contribution to the risk management and governance of products with investment guarantees. We made a number of recommendations regarding changes to the proposed guidance, which are explained in our submission. We also commented on the proposed scope of the guidance and we called for phased implementation, rather than implementing all requirements from the end of 2010.