Regulatory Alerts2021-11-10
Added · Updated
Cell Captive Standard (INS-S-2-8)
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard No. INS-S-2.8 to regulate cell captive insurance and reinsurance structures under the Financial Institutions and Markets Act, 2021. The standard requires registered cell providers to maintain adequate capital, segregate cell assets from liabilities and the provider’s general funds, and exercise ongoing oversight of cell owners’ corporate governance. It further mandates annual financial reporting, strict reinsurance coverage, and prescribed dissolution procedures to ensure policyholder protection and overall market stability.
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