Prudential Authority: Draft Public Disclosure Standard for Insurers

Posted 20 April 2026 Written by Acts Online
Category Financial Sector

Brought to you by SA Legal Academy: The Prudential Authority has released a draft revised prudential standard on public disclosures for insurers for stakeholder comment.

In terms of the Insurance Act, No. 18 of 2017, the Prudential Authority (PA) has invited input by 29 May 2026 on the revised draft standard. This document builds on proposals originally released in July 2021 and aims to standardize the information insurers must provide to the public to ensure market discipline and policyholder protection.

The draft standard and the accompanying guidance note address several regulatory requirements, including:

  • Disclosure of the insurer’s financial position and capital adequacy;
  • Information regarding the risk profile and risk management strategies;
  • Details on governance frameworks and internal control systems; and
  • The methodology used for valuing assets and liabilities for solvency purposes.

The PA intends for the revised standard to align South African insurance regulation with international standards, specifically the Insurance Core Principles (ICPs) issued by the International Association of Insurance Supervisors (IAIS). The guidance note provides further clarity on the frequency and format of the required disclosures.

Click here to view the draft standard and related documents on the Prudential Authority website.

What this means for you, your business, or your clients

  • For yourself: You must review the draft standard to understand the technical requirements for reporting on capital adequacy and risk management under the Insurance Act, No. 18 of 2017.
  • For your business: Compliance officers should evaluate existing data collection systems to determine if they can produce the granular information required by the proposed disclosure templates.
  • For your clients: Advise clients in the insurance sector to prepare submissions to the PA by the 29 May 2026 deadline, focusing on the potential administrative burden of the new reporting requirements.

Originally published at https://legalacademy.co.za/news/read/prudential-authority-input-sought-on-draft-standard-for-insurers

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