NAICOM inaugurates Nigerian Actuarial Society Discount Rate Committee

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The Commissioner for Insurance Olorundare Sunday Thomas has inaugurated the Nigerian Actuarial Society Discount Rate Committee (NAS-DRC). This is contained in a statement signed by the Head, Corporate Communication and Market Development, Rasaaq Salami.

The statement reels out that, the Standing Committee is to support the setting of a standardized basis of determining discount rate factors for use by the insurance industry and other stakeholders in the financial services sector, particularly in the implementation of the International Financial Reporting Standard 17 (IFRS 17), Insurance Contracts.

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