Regulatory Alerts2005-01-01
Insurance Regulations 2005
Issued by the Secretary of State for Finance and Economic Affairs, these regulations mandate comprehensive licensing, capital, and solvency standards for insurers, reinsurers, brokers, agents, and loss adjusters in The Gambia. They prescribe specific paid-up capital thresholds, solvency margins, and security deposits while enforcing strict investment limits, standardized record-keeping, and fixed annual fees. The framework ensures market stability through mandatory auditor certifications, defined claim settlement timelines, and active Commissioner oversight to guarantee ongoing regulatory compliance.
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