Regulatory Alerts2021-06-30
Law No. 030/2021 of 30 June 2021 Governing the Organization of Insurance Business
The Rwandan Parliament enacted Law No. 030/2021 to establish a comprehensive regulatory framework for the insurance sector, mandating licensing procedures for insurers and intermediaries while enforcing prudential rules on capital adequacy, solvency margins, and technical provisions. The legislation standardizes corporate governance structures, defines the roles of external auditors and actuaries, and outlines strict supervision mechanisms for both individual insurers and insurance groups. It further codifies pre-contractual duties, risk management policies, and the legal requirements for insurance contracts to ensure market stability and consumer protection.
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