The Isle of Man Financial Services Authority has today launched the 4th Quantitative Impact Study for Life Insurers

As detailed in the FSA’s 2017 Roadmap, we are today issuing a consultation paper CP17-03/T04. This paper sets out the timescales for the QIS4 exercise for life insurers and reinsurers and describes changes to the Standard Formula being tested in QIS4 compared with that for QIS3.

We are also issuing the QIS4 technical specification TS17-03/T04, a set of results templates, a results questionnaire, the risk-free yield curves and probabilities of default as at 31 December 2016, and helper spreadsheets to assist in calculating the counterparty default risk, spread risk, and health risk capital requirements.

We require that the results of QIS4 (for all life insurers and reinsurers) are submitted by the end of June 2017 at the latest. Insurers should submit their results earlier if possible. In addition the response to one specific question is requested by the earlier date of 30 April 2017.