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IRU Circular 19/2026Insurance Regulatory Unit

IRU Circular 19/2026 — Credit-rating decline: corrective plan and progress disclosures

IRU Circular 19/2026 adopts disclosure and corrective-plan follow-up forms for a credit-rating decline below the required minimum. A board-approved corrective plan must be submitted within 90 days of the credit-rating report, followed by implementation progress disclosures. Official sources and an evidence-led implementation checklist.

تعميم رقم (19) لسنة 2026 بشأن اعتماد نماذج الإفصاح والخطة التصحيحية ومتابعة تنفيذها في حال انخفاض التصنيف الائتماني والتقارير الدوريةOfficial Arabic title

Issued
03.09.2026
Published
03.09.2026
Guide reviewed
11.10.2026
Instrument
IRU Circular 19/2026

Action at a glance

What this instrument asks you to do

IRU Circular 19/2026 adopts disclosure and corrective-plan follow-up forms for a credit-rating decline below the required minimum. A board-approved corrective plan must be submitted within 90 days of the credit-rating report, followed by implementation progress disclosures.

Source-backed

Stated legal requirements

Requirements below are attributed to the instrument or cited guidance; each item includes its source location.

  1. 01

    Upon a below-minimum rating report, take corrective action and complete the disclosure under Annex 1.

    Citation · Page 1, first two operative paragraphs

  2. 02

    Submit a board-approved corrective plan within no more than 90 days from the rating report, including the approval meeting minutes and a timetable to improve the rating.

    Citation · Page 1, second operative paragraph

  3. 03

    Use Annex 2 to disclose progress according to the plan's dates or other dates IRU specifies, until completion and achievement of objectives.

    Citation · Page 1, third operative paragraph

Dates and applicability

Timing, grace period and deadline

Timing

Signed and published 3 September. The 90-day period runs from the firm's rating report, not universally from 3 September. Progress deadlines are plan/IRU-specific.

Grace period

Only the specifically stated submission period or validity condition applies. No additional general grace period is asserted.

Expit suggested practices

Build a reviewable closure record

These suggested actions are implementation practices, not additional legal requirements.

  1. 01

    Capture the triggering rating report and calculate the plan deadline.

    Suggested owner
    CFO / risk management
    Evidence to retain
    Rating report, applicability assessment and dated deadline calculation
    Complete when
    The trigger, responsible owner and no-more-than-90-day submission date are independently checked.
    Expit support context
    Document intake can identify reports and track dates; rating adequacy is not decided by Expit.
  2. 02

    Obtain board approval and monitor the remedial programme.

    Suggested owner
    Board / risk committee
    Evidence to retain
    Approved plan, meeting minutes, Annex 1 submission and Annex 2 progress returns
    Complete when
    Submission and progress evidence address the rating gap, not merely the existence of a plan.
    Expit support context
    Evidence-linked tasks can monitor milestones; IRU may request changes and the firm remains accountable.

Further clarification

Frequently asked questions

Do all firms have 90 days from the circular's issue date?

No. The operative paragraph ties the plan deadline to the credit-rating report that shows the rating below the prescribed minimum.

Can Expit declare our credit-rating decline: corrective plan and progress disclosures gap closed?

No. Expit can support document processing, evidence reconciliation and accountable workflows. Your responsible officers and advisers must assess legal applicability, complete any required official submission and approve closure.

Primary references

Official sources

  1. Official IRU Circular 19/2026 PDF (opens in a new tab)

    Operative circular visually reviewed. This guide reviews the operative circular, not every field in the six annex pages or the full minimum-rating framework under Decision 1/2026. The attachment and base decision must be used for the actual return. A 90-day plan-submission period is not a blanket waiver of the rating requirement.

    SOURCE 01

Read with care

Enforcement and limitations

Enforcement stated in source

The circular refers to IRU's powers under Insurance Law 125/2019 and applicable regulations/instructions. No fixed fine or individual enforcement outcome is inferred.

Limitations of this guide

This guide reviews the operative circular, not every field in the six annex pages or the full minimum-rating framework under Decision 1/2026. The attachment and base decision must be used for the actual return. A 90-day plan-submission period is not a blanket waiver of the rating requirement.