Dear Writer, I need you to follow the below instruction:
- Read the word file which I will upload regard regulation investment funds in life insurance policies
- In brif write about risk management in investment funds in life insurance policies in England and how to apply it in Kuwait
- Search if there are fees in managing investment funds related to investment funds in life insurance policies
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- Then I need you to do benchmark between England market and market in Kuwait and see if the following applies or not and write briefly how it applies write the title first then explain below each on I need to do the benchmarking between England and Kuwait)
Regulatory Framework Analysis
A. Legislation and Guidelines
– Primary Legislation: Identify the core legislative acts governing life insurance in each jurisdiction.
-Secondary Regulations: Examine rules, guidelines, and standards issued by supervisory authorities.
B. Supervisory Practice
– Risk-Based Supervision: Evaluate the extent and implementation of risk-based supervision.
– – Solvency Requirements: Compare solvency frameworks such as Solvency II(EU), Risk-Based Capital (RBC) (US), and other local solvency requirements.
-Capital Adequacy: Analyze capital adequacy standards and reserve requirements.
C. Consumer Protection
Disclosure Requirements: Review transparency and disclosure obligations towards policyholders.
Policyholder Safeguards: Assess measures to protect policyholder interests in case of insurer insolvency
D. Investment Regulations
Investment Limits: Examine regulations on asset allocation, investment limits, and diversification requirements.
– **Prudent Person Principle: Check the adoption and application of the prudent person principle in investments.
E. Governance and Conduct
Corporate Governance: Compare governance standards, including board responsibilities, risk management, and internal controls.
Conduct of Business: Evaluate rules on fair treatment of customers, conflicts of interest, and market conduct