Page 131 - Risk Management in current scenario

management to the Company. If Company can manage their risks better,
they can optimize the capital utilization.

Many of the markets in the Asia Pacific have moved to the RBC regime
and some of the countries such as India is in a process of doing so. The
RBC committee set by the regulator has given a recommendation to RBC
regime by 2021; the next step from the regulator is awaited. The Indian
regulator has taken some steps that are required in the direction of RBC
such as disclosure of Company's information on their website, making the
CRO position as key persons, revision of corporate governance guidelines
etc.

The implementation of RBC is not free from challenges that have
observed in the markets already moved to the RBC regime. The Indian
market may take lessons from those countries and implement the
learning.

The key fundamental question which the time will answer that how this
change in the capital identification helps the insurance industries across
the globe in sustaining the storm.

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