Regulatory Alerts2024-02-14
Added · Updated
Amendments to Short-term and Long-term Insurance Regulations
The Namibian Ministry of Finance has issued regulatory amendments to update investment limits and asset definitions for registered short-term and long-term insurers and reinsurers. The amendments redefine domestic assets, introduce phased domestic asset investment thresholds ranging from 40 to 45 percent, and establish precise maximum percentages for various asset classes in Annexure B. These changes mandate insurers and reinsurers to adjust their portfolio allocations accordingly, ensuring compliance with updated statutory requirements for policyholder asset protection and risk management.
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