Peru amends insurer investment rules
Peru's financial services watchdog SBS has amended investment rules that apply to insurance companies.
The aim is to help enhance risk management, SBS said in a statement.
Under the amended framework, insurers are authorized to invest in new types of securities - dual-currency bonds and structured securities with capital protection - as long as certain eligibility requirements are met.
"In this way, insurers can have a greater number of options to improve the diversity and profitability of their portfolios while maintaining a limited level of risk," SBS said.
In addition, the rule change is designed to streamline the authorization process for new types of instruments or assets not included under the framework. An insurer has to file only one request for each group or type of instrument or operation instead of multiple individual applications, SBS said.
Regulatory work in these two associated areas got underway in 2016.
Furthermore, under the amended rules, insurers who rent out real estate are required to carry out additional work in the area of risk management, such as monitoring the management and valuation of their property.
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