Regulatory Alerts2022-04-01
Codes on Risk Management and Internal Control
The Seychelles Financial Services Authority mandates all licensed insurance companies to establish and maintain robust risk management frameworks and internal control systems. Insurers must implement dedicated control functions with clear independence, Board oversight, and fit-and-proper leadership to systematically identify, assess, monitor, and mitigate operational, financial, and strategic risks. These requirements ensure group-wide and entity-level governance alignment, adequate resource allocation, and continuous reporting to safeguard policyholder interests and maintain financial stability.
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