Manual for External Verification of Reserve Liabilities
- Enactment Date
- 2021-09-07
- Latest Amendment Date
- 2023-06-15
Ⅰ. Verification of Assumption Adequacy
Chapter 1: General Principles
Ⅱ. Verification of Policy Reserve Adequacy
Chapter 1: Life Insurance and Long-Term Non-Life Insurance
1. Adequacy of Contracts Subject to Reserves
2. Adequacy of Insurance Contract Liabilities (Reinsurance Contract Liabilities)
2-1. Remaining Coverage Component
2-2. Incurred Claims Component
3. Adequacy of Investment Contract Liabilities
4. Adequacy of Policyholder Dividend-Related Insurance Contract Liabilities
4-1. Policyholder Dividend Reserves
4-2. Distribution and Management of Surplus
Chapter 2: General Non-Life Insurance
1. Adequacy of Contracts Subject to Reserves
2. Adequacy of Insurance Contract Liabilities
2-1. Remaining Coverage Component
2-2. Incurred Claims Component
3. Adequacy of Investment Contract Liabilities
Ⅲ. Verification of Reserve Adequacy within Retained Earnings
1. Adequacy of Surrender Value Reserves
2. Adequacy of Guarantee Reserves
3. Adequacy of Catastrophe Reserves
Reference
1. List of Policy Reserve Verification Tasks by Stage
2. Policy Reserve Verification Process
Chapter 1: General Principles
Ⅱ. Verification of Policy Reserve Adequacy
Chapter 1: Life Insurance and Long-Term Non-Life Insurance
1. Adequacy of Contracts Subject to Reserves
2. Adequacy of Insurance Contract Liabilities (Reinsurance Contract Liabilities)
2-1. Remaining Coverage Component
2-2. Incurred Claims Component
3. Adequacy of Investment Contract Liabilities
4. Adequacy of Policyholder Dividend-Related Insurance Contract Liabilities
4-1. Policyholder Dividend Reserves
4-2. Distribution and Management of Surplus
Chapter 2: General Non-Life Insurance
1. Adequacy of Contracts Subject to Reserves
2. Adequacy of Insurance Contract Liabilities
2-1. Remaining Coverage Component
2-2. Incurred Claims Component
3. Adequacy of Investment Contract Liabilities
Ⅲ. Verification of Reserve Adequacy within Retained Earnings
1. Adequacy of Surrender Value Reserves
2. Adequacy of Guarantee Reserves
3. Adequacy of Catastrophe Reserves
Reference
1. List of Policy Reserve Verification Tasks by Stage
2. Policy Reserve Verification Process