Regulatory Alerts2020-07-28
Domestic and Non-Domestic Insurer Guidelines
The Financial Services Authority of Seychelles has issued these guidelines to standardize the licensing process for Domestic and Non-Domestic insurers under the Insurance Act, 2008. Applicants must submit comprehensive documentation, including constitutional papers, audited financial statements, actuarial valuations, and proof of funds, alongside specified application fees. The guidelines establish a thirty-day service standard for complete applications, mandate annual licence renewals with corresponding fees, and outline ongoing compliance obligations such as appointing qualified auditors and actuaries while granting the Authority broad supervisory powers.
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