Coming into force of changes to the Methodology for rating of the ability of the insurance companies to pay claims

Date created: 19-Jun-2018

On June 2, 2018, expired the one-month period for public consultations on the changes in the Methodology for rating of the ability of insurance companies to pay claims. During the consultation period, comments haven’t been received. The proposed changes will come into force on 21 June 2018.

According to the provisions of Regulation (EC) № 1060/2009, the ratings of all insurance companies will be reviewed within 6 months of the entry into force of the updated methodology and will be placed "under review" by then. The expectations are that the changes will not affect the assessments of the major part of the ratings, and in a limited number of cases, they may lead to a change in one notch.