Regulatory Alerts2024-01-01
Insurance (Minimum Capital and Solvency Requirements for Life Insurers) (Amendment) Directive 2024
The Registrar of Financial Institutions in Malawi has issued an amendment directive to update the 2017 regulatory framework for life insurers. The instrument revises the enactment formula to align with section 79(3) of the Insurance Act and inserts a new paragraph granting the Registrar discretionary authority to exempt life insurers, wholly or partly, from Part IV compliance requirements. This exemption power operates under terms and conditions determined by the Registrar, providing targeted regulatory flexibility for life insurance entities.
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