Changes to prudential regulation are being phased in across the African continent in a global move towards risk-based solvency regulation. The approach thus far has varied by country. Focus is given in this article to the Solvency Assessment and Management (SAM) regime being implemented in South Africa. We consider the suitability or fit of SAM for South Africa – which follows the highly regarded Solvency II regime.
The article considers some lessons learnt from the SAM implementation. This is then considered in the context of developments in other countries.