Regulatory Alerts2020-02-01
Instruction N°I/04/19/REA on the Composition of Registers and Statements to be Kept by Insurance Companies
The Central Bank of the Republic of Guinea issued Instruction N°I/04/19/REA on June 24, 2019, detailing the mandatory composition of registers and statements to be maintained by insurance companies. This instruction requires insurers to keep detailed records for contract registration, including policy numbers, dates, parties, and financial terms, ensuring easy access to information. Furthermore, it mandates comprehensive claims registers for most insurance and capitalization operations, specifying data points like claim dates, policy numbers, insured/victim names, damage nature, and settlement amounts, along with specific requirements for reinsurance treaties and off-treaty operations.
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