Regulatory Alerts2026-01-01
Insurance (Corporate Governance Requirements for Insurers and Insurance Brokers) Directive, 2026
Issued by the Registrar of Financial Institutions, this Directive establishes minimum corporate governance standards for all licensed insurers and insurance brokers in Malawi. It mandates specific board compositions, independent director thresholds, quarterly meetings, mandatory audit and risk committees, CEO succession planning, and annual board self-assessments. The Registrar is empowered to enforce compliance through administrative penalties of up to K50 million for insurers and K10 million for brokers, with existing entities granted a twelve-month transition period.
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