SAM ORSA Requirements
SAM ORSA Requirements
ORSA is a key component of SAM: a risk-based regulatory regime for the prudential regulation of both long-term and short-term insurers in South Africa.
Highlights
The ORSA is defined as “the entirety of the processes and procedures employed to identify, assess, monitor, manage and report the short and long term risks an insurance undertaking faces or may face and to determine the own funds necessary to ensure that insurer (and groups) overall solvency needs are met at all times and are sufficient to achieve its business strategy.”
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