Regulatory Alerts2023-12-04
Regulation No 82/2023 Governing Reinsurance and Other Forms of Risk Transfer
The National Bank of Rwanda issues Regulation No 82/2023 to establish comprehensive requirements for managing reinsurance and alternative risk transfer mechanisms. The regulation mandates insurers to implement robust frameworks for selecting, monitoring, and documenting reinsurers while defining key metrics such as net risk, probable maximum loss, and retention capacity. It further outlines specific obligations for reinsurance contracts, board responsibilities, foreign reinsurer accreditation, and prohibited practices to ensure financial stability and effective risk management.
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