The new FSB Solvency Assessment and Management regime (SAM)
The Financial Services Board (FSB) is developing a new solvency regime for the South African long-term and short-term insurance industries. Their explanatory information letters and other material appear below.
In November 2010 the FSB issued a document called the "Roadmap" with the following message: "The purpose of the document is to outline how the FSB plans to introduce a revised prudential regulatory regime for insurers, based on Solvency II, to ensure that regulation of the South African insurance sector remains in line with international best practice. The SAM Roadmap provides an important overview of the key messages regarding the new solvency regime that will pertain to all South African insurers."
FSB SAM Roadmap
FSB SAM Roadmap Questionnaire
Some other FSB notices and press releases about the SAM Project
FSB - SAM - Internal Model Approval Process (IMAP) Guide 2011-04-21 48kb
FSB - SAM Project Information letter 2011-04-04 264kb
FSB - SAM Project Information letter 2011-02-18 121kb
FSB - SAM - Quantitive Impact Study for short-term insurers 2010-08-06 229kb
FSB - SAM Project Information letter 2010-03-05 215kb
FSB - SAM Project Information letter 2009-12-04 1mb