Cancellation of Insurance Brokers Certificates of Registration

NAMFISA NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY — Safeguarding the Nation's Wealth! —

May 21, 2003

Enquiries: Ms S. Kapadhi

To: The Principal Officers of All Long-term Assurers The Chairperson: LAAN The Chairperson: NIBA The Chairperson: AIM

Dear Sir/Madam

RE: CANCELLATION OF INSURANCE BROKERS CERTFICATES OF REGISTRATION (section 59 (1) of the Long-term Insurance Act, 1998)

In terms of section 56 (2) of the Long-term Insurance Act, 1998, every registered insurance broker must maintain a Professional Indemnity Insurance cover. Despite several notices/reminders served to respective registered brokers concerned, the following brokers have not reacted and their registration has thus been cancelled with immediate effect.

1. Albatross Insurance Brokers
2. Gert Pearson Van Wyk brokers
3. Golden Life Financial Brokers Cc
4. Husselman Insurance Brokers
5. Martin Borman T/A Global Investments brokers
6. Oshakati Financial Services (Brokers)
7. Strataghem Financial Services brokers

Take note that the brokers listed above are no longer complying with the provisions of the Long-term Insurance Act, 1998. Therefore, NAMFISA advise all companies and/or individuals doing long-term insurance business with these brokers to immediately cease such activities and/or association.

We trust you will find the above in order. Should you still need more clarity, please do not hesitate to contact us.

Yours faithfully

Marcelina Gaoses General Manager: Provident Institutions FOR REGISTRAR: LONG-TERM INSURANCE

• P.O. Box 21250 Windhoek NAMIBIA • 154 Independence Avenue • 8th Floor, Sanlam Centre • Tel: (+264 61) 290 5000 • Fax: (+264 61) 256303 • E-Mail: info@namfisa.com.na