Regulatory Alerts2015-07-22
Regulation Applicable to Insurance Companies in Djibouti
Issued by the Djibouti Minister of Economy and Finance, this 2012 law updates and supplements the 1999 insurance regulatory framework by establishing comprehensive financial, accounting, and administrative requirements for domestic insurance companies. It mandates strict technical provisioning, solvency margins, and internal control systems while empowering supervisory authorities to impose emergency safeguards, appoint provisional administrators, and enforce restructuring plans when policyholder interests are compromised. Furthermore, the legislation standardizes executive qualifications, statutory auditor approvals, investment and reinsurance policies, and life insurance contract disclosures to ensure operational transparency and regulatory compliance.