The Chile Financial Market Commission has published for consultation a regulatory proposal setting out liquidity projection requirements for insurance and reinsurance companies, based on expected cash flows, and establishing the first outline of the Information Systems Manual for Insurance Companies (ISMI). The proposal would replace the current stock-based liquidity risk methodology with a prospective, flow projection-based approach, following issues identified through the CMF’s solvency assessment process for insurers and reinsurers. The CMF frames the change as improving its ability to measure and monitor inherent liquidity risk, aligning the methodology with international practices while drawing on banking experience, and expanding the information available for additional prudential analysis. The ISMI is positioned as part of the CMF’s broader effort to standardise and harmonise information requirements across supervised sectors. Comments can be submitted via the CMF’s “Regulations Under Consultation” webpage until 9 December 2025.

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