Regulatory Alerts2020-01-01
Life Insurance Supervision Prudential Standards 2020
The Insurance Commissioner of Samoa issued the Insurance Supervision Prudential Standards 2020 to regulate the conduct of licensed life insurance companies under the Insurance Act 2007. These standards establish minimum requirements for corporate governance, risk management frameworks, fit and proper personnel, external audit roles, solvency, actuarial duties, reinsurance strategies, and complaints management. The regulations aim to ensure financial stability, transparency, and the protection of policyholders by enforcing strict oversight and accountability mechanisms.
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