South Africa: regime change
As South Africa’s insurers prepare for a risk-based solvency regime, it appears that the new capital rules could benefit life insurers, but non-life companies may not be so well off. Blake Evans-Pritchard reports
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As the most developed economy on the continent, South Africa likes to keep up with international best practice. It was this goal that led the country’s regulator, the Financial Services Board (FSB), to announce a few years ago that it would adopt a risk-based regime for its insurers that is broadly in line with Europe’s Solvency II project. It is now one of seven jurisdictions in the latest wave of countries that the European Insurance and Occupational
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