Regulatory Alerts2022-01-01
Insurance (Structured Investment-Linked Insurance Business) Rules 2022
The Financial Services Commission of Mauritius issued the Insurance (Structured Investment-Linked Insurance Business) Rules 2022 to establish a comprehensive regulatory framework for long-term insurers offering Structured Investment-Linked Insurance Business (SILIB). The rules mandate that insurers obtain prior regulatory approval, appoint approved custodians to safeguard and invest policy assets, maintain minimum liquidity and reserve funds, and adhere to strict anti-money laundering and disclosure standards. By setting clear parameters for asset management, performance fees, premium thresholds, and policyholder communications, the regulations ensure transparent risk allocation and protect beneficiaries while enabling insurers to internally manage or outsource SILIB fund administration.