Regulatory Alerts2017-01-11 | cba-blob-8601State Ordinance on the Supervision of the Insurance Business
The Central Bank of Aruba exercises supervision over insurance companies and branches to ensure compliance with licensing, governance, and solvency requirements. The ordinance mandates strict authorization procedures for market entry, including background checks on directors and qualified shareholders, while establishing specific solvency margins and technical provisions. It further empowers the regulator to enforce corporate governance standards, monitor structural changes, and revoke licenses for non-compliance with legal or prudential obligations.
Share