insurance.  Companies can allocate entire profits from 2022 to 2023 to dividends

The Polish Financial Supervision Authority approved the following: Insurance companies allocated the entire profits of the period from 2022 to 2023 to dividends. However, in the case of last year’s profits, they must take into account the amount already allocated for this purpose.

The rest of the article is below the video

See also: Will Adam Glabinski appear in state court? “We have a nuance”

Below are the insurance companies that will pay out all of their profits as dividends

However, not all entities in this sector will do so. The Polish Financial Supervision Authority recommended that it be paid by insurance companies that meet all specified criteria, i.e. those that:

  • Obtained a good or satisfactory risk rating under the 2022 BION;
  • In individual quarters of 2023, they showed no shortage of own funds to cover capital requirements (understood as the maximum of the minimum capital requirements) [MCR] and capital adequacy requirements [SCR]);
  • In 2023, it is not covered by a realistic recovery plan or a realistic short-term financial plan;
  • As of December 31, 2023, the proportion of own funds without deducting expected earnings was at least 175%. The amount of capital requirements for insurance companies, reinsurance companies, and insurance and reinsurance companies operating in the first section, and not less than 150 percent of the amount of capital requirements for insurance companies, reinsurance companies, and insurance and reinsurance companies operating in the second section.

Additional recommendations of the Polish Financial Supervision Authority

That’s not all. Companies that meet the above criteria should consider something else when deciding on a dividend: Additional capital needs within twelve months from the date of approval of the 2023 financial statements. The idea is to secure funds, for example to increase flexibility with respect to changes in the market and legal environment.

The Polish Financial Supervision Authority notes, first of all, the high uncertainty regarding macroeconomic prospects, relating to, among other things, inflation, interest rates, currency rates, energy resources or the effects of currently ongoing armed conflicts.

Rate the quality of our article:

Your feedback helps us create better content.

source:

PAP

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

There are no candidates for the position of Chairman of the Financial Supervision Authority. Competition without results

At the beginning of November, Paweł Borys, who has been running the…

ZEW Index – March 2022

2022-03-15 12:29 publishing2022-03-15 12:29 Participate Photo: Reuters/ / forum Such a sharp…

Wall Street ignored the bad news

Christopher Colany2023-01-24 22:05Senior Analyst at Bankier.pl Publishing2023-01-24 22:05 Share Despite some very…

Viaplay end poland how to abandon a new investor

Schibsted held more than 8 million shares Viaplay GroupWhich is covered by…