Newsletter
LIFE RESERVE INTEREST RATE LIMITS TO BE ABOLISHED
To promote greater flexibility in setting premi-ums, the Ministry of Finance (MOF) is consid-ering amending the Insurance Law Enforcement Rules to abolish the minimum and maximum interest rates used for the calculation of life pol-icy reserves. The MOF also plans to introduce different formulae for calculating different re-serve interest rates for different insurance prod-ucts, so that different rates apply to different policies, in line with actual needs.