Revised Statutory Reporting Guideline No. 6
This update replaces the 2013 version of Statutory Guideline No. 6. It outlines the reporting obligations of all Class 1 and Class 2 insurers, including deadlines for submitting quarterly and annual returns, as well as updated requirements related to IFRS 17. Please find below the updated guideline, supporting documents, and access to the relevant reporting forms.
Download Reporting Forms:
• Annual Reporting Forms 2024 – Section A (IFRS 17)
• Annual Reporting Forms 2024 – Section B (Non-IFRS 17)
• Quarterly Returns – Section A (IFRS 17)
• Quarterly Returns – Section B (Non-IFRS 17)
Technology Cyber Risk Management Guideline
This document provides guidance regarding best practices for entities to systematically manage cyber and technology risks and includes disclosure and reporting obligations applicable to financial institutions.
Cyber Incident Reporting - Initial Report
Cyber Incident Reporting - Intermediate Report
Cyber Incident Reporting - Final Report
Domestic non-bank SIFIs Guideline
Outlines the criteria for what makes a financial institution a SIFI, the standards applicable to SIFIs and the measures to mitigate the risks posed by such entities to the financial system and the broader economy.
Fitness & Propriety Guideline
Establishes the criteria and obligations applicable to individuals in critical roles within financial institutions and corporate bodies related to fitness and propriety. It updates and replaces the information previously released by the Financial Services Commission in its 2017 Fit and Proper Circular. The Fit and Proper FAQs released in 2017 have also been updated and replaced.
Material Changes Disclosure Guideline
The guideline establishes the reporting obligations of Financial Institutions as they relate to material changes that impact or potentially impact their operations, and includes information regarding:
- Disclosure vs Disclosure and Approval requirements
- Timing of Notification of changes
- Form and method of disclosure
Corporate Governance Guideline
This guideline underscores the importance of good corporate governance in financial institutions as a foundation for trust, transparency, and accountability within the financial market. It highlights how sound governance principles contribute to financial stability, strengthen business integrity, and encourage long-term investment.
Internal Controls and Risk Management Guideline No. 2
This guideline outlines the Financial Services Commission’s expectations for insurers in establishing effective internal control and risk management frameworks. It emphasises the central role of boards and senior management in identifying, assessing, and managing risks in a manner that supports sound governance, financial stability, and policyholder protection.
Market Conduct Guideline No. 3
This guideline sets out the standards of fair, transparent, and ethical behaviour expected of insurers and intermediaries operating in the domestic insurance market. It emphasises the importance of integrity, clear information disclosure, proper claims handling, and effective complaints procedures to strengthen consumer confidence and protect policyholders.
Related Party Transactions Guideline No. 4
This guideline outlines the regulatory expectations for managing related party transactions within insurance companies. It recognises that while such transactions are a normal part of group business structures, they can pose risks if not conducted on an arm’s length basis.
Asset & Liability Valuation Guideline No. 5
This guideline sets out the principles and minimum standards for valuing assets and liabilities for solvency and statutory reporting purposes within the insurance sector. It explains how valuations used for regulatory oversight may differ from general accounting treatments, and why consistent, transparent methodologies are essential for accurately assessing an insurer’s financial position.
