2012-04-13
The maximum technical interest rate used by life assurance companies when calculating the technical provision for loss cover was left unchanged. According to the Resolution No. N-486 of 28 December 2011 by the Insurance Supervisory Commission (its functions were taken over by the Bank of Lithuania), the maximum technical interest rate is 2.63 per cent.
The supervisory authority sets the maximum technical interest rate each quarter according to the Resolution of the Insurance Supervisory Commission No. N-117 of 1 October 2004 “On the adoption of the methodology for the calculation of the amounts of insurance technical provisions”.