Solvency Assessment and Management - March 2012

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The new Solvency Assessment and Management (SAM) regime could mean significant changes for tax functions and the management of tax risk for South African insurers.

As essential as the Pillar I capital requirements are, it is not the only prerequisite to meet solvency requirements. Often underestimated, effective risk management and sound governance under Pillar II, will be of significant importance under SAM. Pillar II will have an enterprise-wide impact, of which the extent and practical implication of the respective responsibilities and contributions has to be considered in its entirety.

One of the questions to ask is where does tax sit in this process?

Previous versions of SAM Focus:

• SAM focus - Contract Boundaries (Apr 2012)
• SAM focus - Integrated Architecture (Mar 2012)
• SAM focus - QIS 1 results (Feb 2012)
• SAM focus - A model worth using (Feb 2012)
• SAM focus - What directors should know (Dec 2011)
• SAM focus - Reporting (Nov 2011)
• SAM focus - Model validation (Oct 2011)
• SAM focus - Effects of data
• SAM focus - XBRL (Sep 2011)
• SAM focus - Insurance Groups (Aug 2011)
• SAM focus - Tax (Aug 2011)
• SAM focus - Change management (Jul 2011)
• SAM focus - QIS 1 (May 2011)
• SAM focus - ORSA (Mar 2011)
• SAM focus - King III (Nov 2010)
• SAM focus - Regime (Nov 2010)

Other SAM brochures

• Be prepared - Understanding the challenges of SAM - August 2011