• High level findings from working group and feedback discussion.
• Description of the purpose and requirements in calculating the non-life risk margin in a SAM context.
• How the SAM non-life risk margin calculation differs from other jurisdictions such as Solvency II and the Swiss Solvency Test (“SST”).
• Key sources of difference in approaches and suggestions to improve industry consistency.
• Key components to be included in the risk margin and the underlying drivers of the risk margin.
• Circumstances where simplifications are appropriate for calculating the non-life risk margin and typical analysis required to justify the use of simplifications.
• Comparison between SAM risk margin and IFRS 17 risk adjustment
• Current developments on the topic in other jurisdictions.

Outcomes for attendees:

• Deeper understanding of the mechanics and drivers behind the non-life risk margin calculation.
• Understanding the key considerations when calculating the risk margin using the standard formula as outlined in the FSIs.
• Background behind and the appropriateness of using simplifications in calculating the risk margin in a SAM context.
• Understanding the link between SAM risk margin and IFRS 17 risk adjustment.
• Understanding of how to align risk margin calculations in the non-life insurance industry.
• Understanding different approaches used to calculate the risk margin in other jurisdictions.