Regulatory Alerts2020-08-12
Insurance Manager Guidelines
The Financial Services Authority of Seychelles issues these guidelines to establish the licensing criteria, application procedures, and ongoing compliance requirements for entities operating as Insurance Managers under the Insurance Act 2008. Applicants must submit a comprehensive package including certified constitutional documents, fit-and-proper declarations for principal officers, professional indemnity insurance, and a US$2,000 application fee to secure approval within the Authority’s thirty-day service standard. Licensed managers are subject to annual US$3,000 renewal fees, mandatory audited financial statements with actuarial valuations, and continuous supervisory powers allowing the Authority to impose conditions or revoke licenses for non-compliance.